PayPal to Launch Crypto Checkout: Allowing US Customers to Pay With Bitcoin at Millions Merchants
PayPal will reportedly announce later today that it has started allowing consumers from the US to use cryptocurrency to pay at the millions of merchants that the payment processor supports.
- PayPal, the world’s leading online payment processor, will announce later today that it has started allowing US customers to use their crypto within its network, Reuters reports.
- According to the release, this is a move that might significantly boost the usage of digital assets altogether.
- People who have bitcoin, ether, litecoin, and bitcoin cash in their PayPal digital wallets will be able to convert them into fiat currencies at checkouts to make the purchases.
- Speaking on the matter was Dan Schulman, CEO and President at PayPal, who said:
This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet.
- With this, PayPal becomes one of the largest financial companies to open its entire network to cryptocurrency users and to help their further adoption.
- The move is also in line with what the company has previously laid out as future plans.
- In response, the cryptocurrency market saw another leg up.
- Bitcoin’s price is currently topping $59K, while altcoins are also following.
