The company also offers the ability for business accounts to send money externally Cryptocurrency.
San Jose, California, September 25, 2024 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) announced that it will enable merchants in the United States to buy and sell. cryptocurrency Directly from your PayPal Business account. At the time of release, this feature is not available for business accounts. new york state. Today's announcement is the latest step in PayPal's growth. cryptocurrencyIncrease the usefulness of by enhancing features available to millions of U.S. sellers
“Since we launched the ability for consumers to buy, sell, and hold on PayPal and Venmo, cryptocurrency Inside their wallets, we learned a lot about how they like to use their wallets. cryptocurrency,” said Jose Fernandez da PonteSenior Vice President of Blockchain, cryptocurrencydigital currency, PayPal. “Managers are increasingly expressing similar demands. cryptocurrency Features available to consumers. We are excited to meet that demand and make it easier to handle digital currencies by offering this new service. ”
Additionally, PayPal allows U.S. merchants to make external transfers. cryptocurrency On-chain to a third-party target wallet. PayPal Business account holders can now send and receive supported cryptocurrency Exchange tokens with external blockchain addresses.
PayPal has continued to take significant steps toward growth. cryptocurrencyHow to use it. In 2020, PayPal announced that customers could now buy, hold, and sell. cryptocurrency Directly from your PayPal and Venmo accounts. PayPal has announced that it will launch US dollar-denominated services in 2023. stable coinPayPal US Dollar (PYUSD). in April 2024has enabled PYUSD as a funding method on the Xoom platform so that users do not pay transaction fees when using PYUSD to fund eligible transfers to friends and family overseas. Recently, PYUSD Solana Blockchain allows users to choose multiple blockchains, giving them more flexibility and control.
About PYUSD
PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos and its products (including new blockchain extensions) are licensed to engage in virtual currency business activities. new york state Department of Financial Services. PayPal USD reserves are fully backed by U.S. dollar deposits, U.S. Treasury securities, and similar cash equivalents, and PayPal USD can be bought and sold through PayPal and Venmo at the following rates: $1.00 Per PayPal USD.
PayPal USD is issued and stored by Paxos Trust Company, LLC. Learn more at PayPal cryptocurrency Terms, and within the Paxos Terms, which also apply to PYUSD.
