PayPal Empowers U.S. Businesses with New Crypto Trading Features
PayPal, a leading global payment platform, is set to enable business accounts to purchase, sell, and store cryptocurrencies.
However, this feature will not be accessible to merchants operating in New York State at the outset.
The company has revealed that U.S. business account holders can now manage cryptocurrencies directly within their PayPal accounts. This initiative is part of PayPal’s ongoing efforts to enhance cryptocurrency utilization among millions of merchants across the United States.
According to Jose Fernandez da Ponte, PayPal’s Senior Vice President of blockchain, cryptocurrency, and digital currencies, the company has gained valuable insights since allowing consumers on PayPal and Venmo to engage with cryptocurrencies.
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He noted that business owners are increasingly expressing a desire for similar cryptocurrency capabilities. This new offering aims to fulfill that demand, enabling businesses to seamlessly manage their digital assets.
In addition to trading and holding cryptocurrencies, U.S. merchants will have the option to transfer supported digital currencies to and from external wallets, facilitating interactions with various blockchain addresses.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
