skip to Main Content
bitcoin
Bitcoin (BTC) $ 98,426.37 1.11%
ethereum
Ethereum (ETH) $ 3,477.28 0.77%
tether
Tether (USDT) $ 0.999141 0.03%
xrp
XRP (XRP) $ 2.28 0.90%
bnb
BNB (BNB) $ 706.23 1.87%
solana
Solana (SOL) $ 197.79 1.83%
dogecoin
Dogecoin (DOGE) $ 0.331238 0.20%
usd-coin
USDC (USDC) $ 0.999353 0.12%
staked-ether
Lido Staked Ether (STETH) $ 3,473.81 0.65%
cardano
Cardano (ADA) $ 0.914124 2.06%

PayPal Enables U.S. Business Accounts to Buy, Hold and Sell Crypto

PayPal (PYPL) will let its business clients buy, hold and sell cryptocurrency directly from their accounts in the U.S., potentially opening up a larger market for the payments giant.

After letting its retail users do the same via PayPal and Venmo accounts for several years now, the company also saw demand from business owners to buy, hold and sell crypto, the company said Wednesday.

  • $572 Million Lost to Hacks and Fraud in Q2 -Immunefi

    01:06

    $572 Million Lost to Hacks and Fraud in Q2 -Immunefi

  • MoonPay and PayPal Partnership Brings 'Better User Experience': MoonPay CEO

    00:56

    MoonPay and PayPal Partnership Brings ‘Better User Experience’: MoonPay CEO

  • Why MoonPay and PayPal Partnered to Expand Crypto Adoption in the U.S.

    14:12

    Why MoonPay and PayPal Partnered to Expand Crypto Adoption in the U.S.

  • How PayPal, Visa and BlackRock View Crypto in 2023

    02:41

    How PayPal, Visa and BlackRock View Crypto in 2023

  • “Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers,” said Jose Fernandez da Ponte, senior vice president of blockchain, cryptocurrency, and digital currencies at PayPal in a statement.

    The payments company will also allow U.S. merchants to externally transfer cryptocurrency on-chain to “eligible” third-party wallets, according to the statement.

    To start, the service will be unavailable to business clients in New York State, the company said, without giving a timetable for when that would change. The company is one of the 20 or so recipients of the Empire State’s notoriously stringent BitLicense.

    Since 2020, PayPal has allowed consumers to buy, hold and sell cryptocurrencies directly from their accounts. Last year, it unveiled its U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), which reached a $1 billion market cap this summer.

    Edited by Marc Hochstein.

    Disclosure

    Please note that our

    privacy policy,

    terms of use,

    cookies,

    and

    do not sell my personal information

    has been updated

    .

    CoinDesk is an

    award-winning

    media outlet that covers the cryptocurrency industry. Its journalists abide by a

    strict set of editorial policies.

    In November 2023

    , CoinDesk was acquired

    by the Bullish group, owner of

    Bullish,

    a regulated, digital assets exchange. The Bullish group is majority-owned by

    Block.one; both companies have

    interests

    in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

    CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Aoyon Ashraf
    Loading data ...
    Comparison
    View chart compare
    View table compare
    Back To Top