PayPal Removes Waitlist for New Crypto Service, Boosts Weekly Purchase Limit to $20K

All eligible PayPal account holders in the U.S. can now buy, hold and sell cryptocurrency, the company announced Thursday.

The publicly traded payments giant confirmed its crypto plans in a Oct. 21 announcement that sent shockwaves across the industry.

During PayPal’s most recent earnings call on Nov. 2, CEO Dan Schulman said only 10% of customers in the U.S. had access to the crypto service at the time.

Citing steep demand, the firm upped its weekly crypto purchase limits from $10,000 to $15,000 at the time and said remaining U.S. customers would get access to crypto in the next two to three weeks. PayPay is clearly acting quickly.

“Due to initial demand from our customers, we’ve also increased our weekly cryptocurrency purchase limit from $10K/week to $20K/week,” PayPal spokesman Aaron Gould said Thursday.