Coinbase has updated its decentralized wallet to include a way to send money instantly to other users through messaging apps. The update is part of an effort to increase the adoption and use of cryptocurrency by introducing features that resemble payments giant Paypal.

In a blog post, the company explained that customers can now send links to Coinbase wallet users in 170 different countries via apps such as iMessage and WhatsApp, or social media platforms like Facebook, Instagram, Snapchat or TikTok, allowing for them to receive or send funds.

This enhancement shifts the focus of users from using cryptocurrencies as an investment vehicle to using them as a payment method. This could expand crypto adoption among a larger population, particularly those who want to send money internationally without incurring bank fees, delays or other costs. Coinbase isn’t the only one. The @wallet bot added USDT to on Telegram earlier this year. Users can now exchange the largest stablecoin in the world by market capital by messaging.

The stock price of the Nasdaq traded crypto exchange has increased by almost 300% in the past year as the crypto market is picking up.

This added functionality comes at a time when many companies, especially big players from the traditional financial sector, are trying to gain exposure in the crypto ecosystem. The Securities and Exchange Commission is expected to decide in about a week whether or not it will approve spot-bitcoin ETFs from various applicants including BlackRock Fidelity Franklin and other companies.

Sheldon Reback is the editor.