PayPal Holdings announced on September 25, 2024, that it is enabling U.S. merchants to buy, hold, and sell cryptocurrency directly from their business accounts. This functionality is not available in New York State at launch.
The company is also allowing U.S. business account holders to externally transfer supported cryptocurrency tokens on-chain to third-party eligible wallets. This expands the utility of digital assets beyond consumer accounts.
This move follows PayPal's introduction of cryptocurrency services for consumers in 2020 and the launch of its U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), in 2023. The expansion aims to meet growing merchant demand for crypto capabilities.
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