Brian Armstrong, CEO of Coinbase Global (NASDAQ:COIN), announced on Wednesday that the new “Direct Deposit” feature is now live, enabling users to split their paychecks directly into cash and cryptocurrency.
Payday Becomes More Exciting
Armstrong confirmed the development on X, sharing a request from a user who had asked for it back in January 2025.
“You got it. Direct deposit is live on Coinbase,” Armstrong said.
The new feature lets users send their paychecks or a portion of it directly to Coinbase. Every payday, the funds can be automatically split between cash and cryptocurrency based on a predetermined allocation percentage.
Users would also have the option of spending the funds using Coinbase’s cryptocurrency card and earn 4% back on every purchase.
Legal Disclaimers
Coinbase added that funds from direct deposits typically become available in 3–5 business days, depending on the employer or payroll provider.
While no trading fees will be charged, Coinbase stressed that any auto-allocation to cryptocurrency will be treated as a purchase, where a spread may apply.
Currently, the feature is not available on the web and can only be accessed via Coinbase’s application.
Coinbase Moving Closer To ‘Super App’ Vision?
The feature builds on Coinbase’s ‘super app’ concept, supporting its goal of transforming the platform from a simple cryptocurrency exchange into an all-in-one financial and Web3 hub.
The announcement follows Coinbase’s first-quarter financial results, which were reported earlier this month.
The leading cryptocurrency company recorded a revenue of $1.41 billion, which fell short of analyst estimates. The firm reported an adjusted net loss of 17 cents per share.
Price Action: Coinbase shares were down 1.21% in overnight trading after closing 3.46% lower at $173.78 during Wednesday’s regular trading session, according to Benzinga Pro.
COIN stock underperformed in short-, medium- and long-term horizons, paired with a very low Momentum score, according to Benzinga’s Edge Stock Rankings.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock By Thrive Studios ID
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