Bitcoin

PayPal Enables Business Accounts to Buy, Hold, and Sell Bitcoin And Crypto

Published

12 months ago

September 25, 2024

PayPal Holdings, Inc. (NASDAQ: PYPL) has enabled its US enterprise account holders to purchase, maintain and promote cryptocurrency supported on its platform, resembling Bitcoin, immediately from their PayPal accounts. Whereas this service is obtainable nationwide, it won’t be accessible in New York State at launch, PayPal mentioned.

JUST IN: PayPal now lets you purchase, maintain and promote enterprise accounts #Bitcoin and crypto. pic.twitter.com/mIujzhrtiF

— Bitcoin Journal (@BitcoinMagazine) September 25, 2024

“Since we launched the power for PayPal and Venmo customers to purchase, promote and maintain cryptocurrency of their wallets, we have realized lots about how they wish to use their cryptocurrency,” mentioned Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency and digital foreign money at PayPal. “Enterprise homeowners have more and more expressed a want for a similar cryptocurrency choices accessible to customers. We’re excited to satisfy that demand by delivering this new providing, making it easy for them to work together with digital currencies.”

Along with shopping for and promoting, US retailers can now additionally switch cryptocurrency externally to third-party wallets. This new performance additional will increase the flexibleness of crypto transactions for companies.

PayPal’s growth to permit companies to purchase and maintain Bitcoin and crypto on its platform builds on its rising digital foreign money initiatives. This contains the launch of shopper crypto providers in 2020 and the introduction of the US dollar-backed stablecoin, PayPal USD (PYUSD), in 2023.

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