PayPal has been making waves in the crypto space for a while now. Check out the latest reports coming from the payment giant below.
PayPal revealed boosted support for Bitcoin and Ethereum
It’s been just revealed that the payments giant PayPal now allows select users to transfer Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) directly between the platform and external crypto addresses.
In a new statement that has recently been addressed by the online publication the Daily Hodl, Jose Fernandez da Ponte, Paypal’s senior vice president and general manager for blockchain, crypto & digital currencies, explained the fact that the payments giant is beefing up support for digital assets in response to customer demand.
“This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform.”
It’s also important to note the fact that this new functionality allows users to transfer supported coins to Paypal, where tokens can be used to purchase from merchants using the platform’s Checkout with Crypto feature.
Users are also able to move digital assets to external addresses such as wallets, exchanges, and apps.
More than that, according to the official notes, it’s been reported that users can send crypto to their family and friends within the platform without network charges and fees.
PayPal allows customers more flexibility
“Allowing PayPal customers the flexibility to move their crypto assets (Bitcoin, Ethereum, Bitcoin Cash, or Litecoin) into, outside of, and within our PayPal platform reflects the continuing evolution of our best-in-class platform and enables customers to interact with the broader crypto ecosystem.”
PayPal has been in the spotlight a lot regarding the crypto space with all kinds of moves that are boosting adoption. Back in March this year, we revealed that the CEO of PayPal had some interesting details to reveal about the mass crypto adoption.
He said that crypto technology would revolutionize financial systems globally.
Just ahead of the Axis Tel Aviv international investment conference, PayPal CEO Dan Schulman told interviewers that he has high hopes for crypto tech in the future.