PANews reported on October 16 that according to Decrypt, the US listed cryptocurrency exchange Coinbase announced on Tuesday that it will terminate its "salary direct deposit" service from November 25. The service previously allowed users to pay part or all of their salary in the form of cryptocurrency.

A Coinbase spokesperson said the company “has decided to phase out” the feature, but that it is “looking to launch an improved retail direct deposit experience in the future.” They said: “We have announced a new Coinbase Wallet direct deposit feature that will be available to eligible users in the coming months — further helping users move their financial lives fully onto the blockchain.”

The new feature will be rolled out to eligible users in the coming months, allowing them to receive payments directly in cryptocurrency, which will be deposited directly into their Coinbase wallets. Coinbase has not yet announced a specific launch date for the new wallet service, which could result in a time gap between the termination of the current feature and the launch of the new feature. In a tweet responding to an unhappy customer, the Coinbase official support account acknowledged that "the service interruption is indeed inconvenient," but added that "hopefully this will lead to subsequent improvements."