PayPal Holdings, Inc. has been listed on the NASDAQ as PYPL. enabled PayPal allows its U.S.-based business account holders the ability to purchase, store, and then sell Bitcoin (or any other cryptocurrency) supported by its platform directly through their PayPal accounts. PayPal has stated that this service, while available across the country, will not initially be available to New York State.
“Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency,” PayPal’s Senior Vice-President of Blockchain, Cryptocurrency and Digital Currencies, Jose Fernandez da Ponte. “Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”
Now, U.S. businesses can also transfer their cryptocurrency externally to wallets of third parties. Businesses will benefit from this new capability, which increases their flexibility in conducting crypto transactions.
PayPal is expanding its digital currency initiative by allowing businesses to purchase and store Bitcoins and other crypto currencies on their platform. PayPal will launch consumer crypto services by 2020, and introduce its U.S.-dollar-backed stablecoin PayPal USD (PYUSD) in 2023.
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Source: bitcoinmagazine.com
