PayPal (NASDAQ:) Holdings, Inc. (PYPL) announced that it is enabling its US Traders to buy, hold and sell cryptocurrency directly from your Paypal Business Account. At launch, this functionality for business accounts will not be available in New York StateToday's announcement is PaypalThe last step of 's to increase cryptocurrency's utility by making greater functionality available to millions of merchants in the US.
“Since we launched the capability of Paypal and Venmo consumers can buy, sell and hold cryptocurrency In their wallets, we have learned a lot about how they want to use their cryptocurrency,” saying Jose Fernandez da PonteSenior Vice President of Blockchain, Cryptocurrencyand digital currencies, PayPal. “Business owners have increasingly expressed their desire for the same cryptocurrency “We are excited to meet that demand with this new offering, which will allow them to interact with digital currencies effortlessly.”
Besides, Paypal is enabling US merchants to transfer externally cryptocurrency on-chain to eligible third-party wallets. Paypal Business account holders can now send and receive supported text messages cryptocurrency tokens to and from external blockchain addresses.
Paypal Has continuously made important steps to increase cryptocurrencyUsing In 2020, Paypal announced the availability for its clients to buy, hold and sell cryptocurrency directly from your Paypal and Venmo accounts. In 2023, Paypal announced the launch of a US denominated in dollars stablecoin, Paypal USD (PYUSD). In April 2024We enabled PYUSD as a funding instrument for our Xoom platform, allowing users to pay no transaction fees when using PYUSD to fund eligible transfers to friends and family abroad. Most recently, PYUSD was made available on the Xoom platform. Solarium blockchain, giving users the ability to choose between multiple blockchains, allowing for greater flexibility and control.
