The post PayPal Launches Cryptocurrency Services For US Businesses appeared on BitcoinEthereumNews.com.

PayPal has announced a major update to its platform, allowing U.S. merchants to buy, hold, sell, and transfer cryptocurrencies directly from their business accounts. This new feature builds on the company’s digital asset services for individual clients and offers digital currencies to millions of business people across the country. However, when the service is launched, it will not be available for business accounts in New York State. PayPal Expands Cryptocurrency Offerings to Merchants According to a press release, PayPal has introduced a new feature that enables U.S. merchants to purchase, hold, and sell digital assets including Bitcoin through their PayPal business account. This comes at the heels of numerous business owners who have shown interest in conducting business and managing assets through the use of digital currencies.  This move comes in the wake of the company noting that its business clientele is in dire need of the same cryptocurrency functionalities that are afforded to the retail clients. Jose Fernandez da Ponte, the Senior Vice President of Blockchain, Cryptocurrency and Digital currencies at the company’s commented; ‘‘This new feature means that small business owners can engage with digital assets ‘frictionlessly.’’ With this, PayPal business account holders can participate in the digital currency transaction without having to move out of the platform thus improving their interaction with crypto. Crypto Transfers to External Wallets Now Possible The company will also allow US merchants to transfer crypto out of their accounts in addition to the buy, hold, and sell features. This means that business account holders can now purchase, sell, send and receive supported cryptocurrencies from and to other third-party blockchain wallets.  This new feature increases the potential of the company’s crypto services since it makes it easier for business entities to manage digital assets. This new service also fits into the overall strategy…

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Filed under: News - @ September 26, 2024 1:17 am