PayPal to Add Cryptocurrency Buying, Selling and Shopping to its Platform
upstart writes in with an IRC submission:
PayPal to add cryptocurrency buying, selling and shopping to its platform:
PayPal users looking for an alternative way to stash their cash will soon be able to convert so-called "fiat" money, like US dollars and British pounds, back and forth into blockchain-based cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The company announced in a blog post on Wednesday that people will be able to buy, hold and sell cryptocurrency directly from their PayPal accounts. The new service will be rolling out to the US "in the coming weeks," PayPal said, with plans to expand to the company's Venmo service as well as international markets in early 2021.
PayPal also said it's working on making crypto available as a funding source for purchases made at its 26 million merchants worldwide. The company expects this to be available on the platform beginning in early 2021.
[Full disclosure: SoylentNews accepts PayPal as one of its payment processor for site subscriptions. Maybe someday we'll be able to accept your cryptocurrency as payment, as long as it is transmitted to SoylentNews as US dollars.]
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