Connect with us
Active Currencies 13536
Market Cap $2,788,204,054,903.70
Bitcoin Share 49.93%
24h Market Cap Change $1.87

PayPal to allow transactions in Bitcoin, Ethereum etc. from 2021

1min Read

Share this article

Nearly 4 months after the initial rumors in June 2020, PayPal Holdings Inc finally announced that the online payments organization is going to allow customers to buy, sell and hold BTC and other altcoins using their online wallets.

According to reports, the organization plans to incorporate the changes starting next year. Dan Schulman, President and Chief Executive of PayPal stated,

“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role.”

He additionally added that Paypal’s newly formed services for digital assets are expected to encourage the global use of virtual currencies while preparing the network for future development.

From an adoption perspective for cryptocurrencies, this is a massive milestone as Paypal’s reach speaks for itself. The company has close to $350 million active accounts and they processed over $220 billion in payments during the 2nd quarter of 2020.

PayPal would be initially facilitating the purchases of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin after securing its first cryptocurrency license from the New York State Department of Financial Services.

Share

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.