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Coinbase will let customers direct deposit paychecks to their accounts

It's one more feature that centers the crypto marketplace in customers' financial lives.

Coinbase logo displayed on a phone screen surrounded by Bitcoin

Coinbase said it will let customers deposit their paychecks directly to their accounts.

Photo: Jakub Porzycki/NurPhoto via Getty Images

Coinbase customers will soon be able to have their paychecks deposited directly to their accounts, the company said Monday. The company will also allow some employers to pay their employees in crypto.

"The future of payroll is coming," Prakash Hariramani, Coinbase's senior product director, said in a blog post.

Customers will have the option to deposit "as little or as much" of their paycheck to their accounts as they want. They can also choose to get paid in U.S. dollars or in cryptocurrency. The company said it will "automatically convert the paycheck from U.S. dollars to crypto with no transaction fees."

Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers crypto and fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Google Voice at (925) 307-9342.

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