PayPal Launches Support for Crypto for US Business Account Holders
PayPal has declared its support for cryptocurrency for US business account holders. This includes the ability for merchants to purchase, hold, and trade digital assets directly through their PayPal business accounts, with the intention of meeting the growing demand for this service.
However, businesses in New York will not have access to this new feature initially.
According to reports, PayPal’s decision to introduce cryptocurrency tools for businesses is a response to the increasing interest in this market.
Moreover, the recently launched service grants US business account holders the ability to transfer cryptocurrency to external wallets on the blockchain.
PayPal explains that this additional functionality allows for the sending and receiving of digital assets, enhancing the management of cryptocurrency.
This move by PayPal reflects its broader goal of integrating cryptocurrency into mainstream business operations. The company has been actively promoting this trend since 2020, when it first allowed consumers to manage cryptocurrency on PayPal and Venmo.
