Paypal to allow users to buy, hold and sell four cryptocurrencies

This is huge news for crypto

This is huge news for crypto

Bitcoin is up $ 400 to $ 12,296 today. Part of the reason is that Paypal received a conditional bitlicence from New York State Department of Financial Services and will launch a service that allows users to buy, hold and sell cryptocurrency.

In the statement, the company said so “reported his
plans to dramatically increase the utility of cryptocurrency by making it
available as a source of financing for purchases from its 26 million merchants

The company
introduced the possibility of buying, holding and selling certain
cryptocurrencies, initially comprising Bitcoin, Ethereum, Bitcoin Cash
and Litecoin, directly into the PayPal digital wallet. The service
will be available to PayPal account holders in the US in the next

“The transition to
digital forms of currencies are inevitable, which clearly results in
benefits in terms of financial inclusion and access; efficiency, speed
and the resilience of the payment system; and the capacity of governments
to disburse funds quickly to citizens, ”said Dan Schulman, President and
CEO, PayPal.

“Our global reach, our expertise in digital payments, two-sided
network, and rigorous security and compliance controls provide us
the opportunity and responsibility to help facilitate the
understanding, redemption and interoperability of these new instruments
exchange. We look forward to working with central banks and regulators
around the world to offer our support and contribute significantly to
shaping the role that digital currencies will play in the future
global finance and trade. “

This is great news for crypto, but I’m told it shouldn’t have been totally unexpected In June, there was a report that Paypal was working on the direct sale of crypto.
For banking transaction ideas, check out eFX Plus


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