PayPal has become the latest traditional online payments platform to have embraced cryptocurrencies. The company, on Wednesday, announced a new service that will enable customers to buy, sell and hold bitcoin and other digital currencies in its online wallets. The service, which has just started rolling out, will be available on its website as well as its mobile apps and, can be used as a funding source for purchases at its 26 million merchants worldwide starting early next year.
Today, we are announcing the launch of a new service that will enable customers to buy, hold and sell #Cryptocurrency directly from their PayPal account. https://t.co/QS6JRmG9hs pic.twitter.com/uHBatfZkbF
The company will initially only support a few leading cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin, with the full service expected to be rolled out to PayPal account-holders in the US “in the coming weeks”. The company plans to expand the features to Venmo and select international markets in the first half of 2021.
