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PayPal Holdings, Inc. (NASDAQ: PYPL) is taking a bold step by allowing its U.S. merchants to buy, hold, and sell cryptocurrency directly from their PayPal business accounts. This exciting feature, available to millions of merchants across the U.S. (except New York State), enhances crypto’s real-world utility, empowering businesses to seamlessly engage with digital currencies.
According to Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, merchants have shown strong interest in accessing cryptocurrency capabilities. This move demonstrates PayPal’s commitment to meeting that demand, making it easier for business owners to transact in digital assets.
PayPal’s journey into crypto has been impressive. From introducing crypto transactions for consumers in 2020 to launching PayPal USD (PYUSD) and now enabling crypto transfers to third-party wallets, PayPal continues to pave the way for cryptocurrency adoption. With recent integration on the Solana blockchain, merchants now have more flexibility and control in their crypto operations.
