TripActions Liquid to support direct deposit reimbursements made to Coinbase account
PALO ALTO, CA, October 25, 2021 — TripActions®, the leading cloud-based travel and spend management platform, today announced a new partnership between TripActions and Coinbase that enables TripActions Liquid™ users to be reimbursed directly into their Coinbase account for any personal or manual spend. The integration is the first of its kind in the payments and expense space, and enables users with an easy way to be reimbursed in their preferred form of currency.
“Our philosophy is simple: If employees responsibly spend their own money for company expenses within policy, they should quickly get reimbursed into the account of their choosing, whether that’s a personal bank account or a Coinbase account,” says Robin Gandhi, SVP of TripActions Liquid. “The Coinbase integration is yet another example of how TripActions Liquid is reimagining and modernizing traditional corporate card and payment solutions. This launch demonstrates TripActions’ agility and speed to meet the needs of employees in today’s modern workforce.”
Traditional offerings require employees to submit an expense report, wait for the report to be approved, and then have their reimbursement processed through payroll. TripActions Liquid already allows employees to link a personal bank account to receive reimbursements in one to three days for in-policy expenses made on a personal card or with cash.
With the TripActions Liquid-Coinbase integration, employees can now choose to have their U.S. dollar reimbursements sent directly to their Coinbase account in USD or auto-converted into any of the 100+ cryptocurrencies supported on Coinbase — reducing or eliminating the need to make frequent transfers, which is time-consuming and inconvenient.
Whether TripActions Liquid users are looking to make short- or long-term investments, earn a higher interest on yield-generating assets than with fiat money, or fund everyday purchases, the integration with Coinbase provides an easy, automated mechanism for users to easily participate in the cryptoeconomy.
The Coinbase partnership announcement comes on the heels of TripActions’ recent Series F growth funding round at a post-money valuation of $7.25 billion. In the past six months, TripActions Liquid has recorded more than 500% growth in transaction volume and nearly 400% growth in active users as the fintech-powered solution revolutionizes the entire travel, expense, corporate card, and payments stack.
“Coinbase ushered in the future of payroll by allowing users to deposit their paycheck into Coinbase,” says Shilpa Dhar, VP of Product at Coinbase. “Our integration with TripActions Liquid is a natural extension of that functionality. We’re excited to partner with TripActions to reimagine reimbursements and introduce more users to the cryptoeconomy."
Fast becoming the default for corporate travel and expenses, TripActions is the leading, cloud-based T&E platform that combines industry-leading tech with best-in-class travel agency service. Trusted by more than 5,000 companies globally, TripActions empowers organizations with real-time data to make business decisions and provides flexible T&E management tools that enable them to adapt to changing market conditions to keep traveling employees safe, control costs, and save money. Learn more at tripactions.com.
Coinbase is building the cryptoeconomy — a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.