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Cryptocurrency News Articles
PayPal Enables US Merchants to Buy, Hold, and Sell Cryptocurrency Directly from Their Business Accounts
Sep 26, 2024 at 03:40 am
Jose Fernandez da Ponte, PayPal's Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, highlighted the company's commitment to understanding
PayPal (NASDAQ:PYPL) announced on Wednesday that it is enabling U.S. merchants to buy, hold and sell cryptocurrency directly from their business accounts. This new functionality aims to help increase the utility of digital currencies and make it easier for users and merchants to deal with crypto assets in their businesses.
According to the company’s announcement, demand from business owners for similar capabilities has prompted PayPal to expand its offerings with the goal of making it easier for merchants to navigate the digital currency space.
“Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency,” said Jose Fernandez da Ponte, PayPal’s Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies.
“We are excited to offer these capabilities to our merchants, enabling them to seamlessly accept and integrate crypto into their businesses to better meet the evolving needs of their customers.”
In addition to basic transactions, the firm said it is also enabling merchants to transfer cryptocurrency to and from external wallets. This means that business account holders can send and receive supported crypto tokens to third-party eligible wallets.
PayPal has been at the front of integrating cryptocurrencies into its platform. In 2020, the company made headlines by allowing customers to buy, hold, and sell cryptocurrencies through their PayPal and Venmo accounts.
This was followed by the introduction of PayPal USD (PYUSD), a US dollar-denominated stablecoin, in 2023. The stablecoin has since been integrated into the Xoom platform, allowing users to transfer money internationally without incurring transaction fees when using PYUSD.
Most recently, the firm expanded the reach of PYUSD by making it available on the Solana blockchain.
However, it’s important to note that the latest feature introduced by the company on Wednesday will not be available to businesses operating in New York State at launch.
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- SEC Settles With TrueUSD Issuer TrueCoin and Lending Protocol Operator TrustToken Over Alleged Fraudulent Sale of Unregistered Investment Contracts
- Sep 27, 2024 at 04:25 am
- Federal securities regulators have reached an agreement with TrueUSD (TUSD) issuer TrueCoin and lending protocol operator TrustToken to settle charges for the alleged
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- Hamster Kombat ($HMSTR): A Comprehensive Guide to the Viral Telegram-Based Tap-to-Earn Project
- Sep 27, 2024 at 04:25 am
- Amid much controversy around its airdrop allocation, Hamster Kombat ($HMSTR), a viral Telegram-based tap-to-earn project has finally opened for trading
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- South Korea Fines Worldcoin $830,000 for Misuse of Personal Data
- Sep 27, 2024 at 04:25 am
- The South Korean Personal Information Protection Commission (PIPC) has imposed a penalty of 1.1 billion won ($830,000) on Worldcoin and its sister organization
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- SEI Network (SEI) Saw an Applaudable Price Jump, With the SEI Token's Market Cap Cruising Above $1.6B
- Sep 27, 2024 at 04:25 am
- On September 24, the SEI team announced new ecosystem integrations through a post on X. Two yield-generating Liquid Staking Tokens (LSTs), Seiyan ETH and Super Seiyan ETH, developed by Nucleus and Dinero, have successfully entered the SEI ecosystem.
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- Mawari Network Raises $10.8M to Scale Spatial Computing and XR Experiences
- Sep 27, 2024 at 04:25 am
- Mawari co-founder and CEO Luis Oscar Ramirez told The Block that the fundraising was structured as a simple agreement for future equity (SAFE) with token warrants.
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- Nervos Network (CKB), Sui (SUI), and Cutoshi (CUTO) – The Altcoins That Are Outperforming The Market
- Sep 27, 2024 at 04:25 am
- Large-cap cryptocurrencies are struggling and facing overall bearish sentiment, but at this time, a few promising altcoins are overperforming the markets, beating all the competition. These altcoins protect investors against drawdowns and give hope to survive in disappointing market conditions.
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- ORDI Airdrop: Check Eligibility for $ORDI Full guide
- Sep 27, 2024 at 04:25 am
- Obtaining your blockchain $ORDI tokens is painless! Just go through these quick steps and start using your tokens instantly.
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- Ethena Labs Releases New Fiat-Backed Stablecoin UStb Backed by BlackRock and Powered by Securitize
- Sep 27, 2024 at 04:25 am
- Ethena Labs, operating in the decentralized finance industry, has recently released its latest product. The fiat-backed stable coin is known as the UStb.
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- Crypto Analyst Bluntz Leans Bullish on Under-the-Radar Altcoin SAGA, Predicts Major Move for Memecoins WIF and POPCAT
- Sep 27, 2024 at 04:25 am
- The widely followed cryptocurrency analyst and trader known as Bluntz is leaning bullish on one under-the-radar altcoin while offering his insight on two memecoins.