- PayPal announces service allowing customers to make purchases with crypto
- The service will convert cryptocurrency to fiat at the point of purchase
- Earlier, PayPal also allowed customers to hold, buy and sell cryptocurrency
PayPal announces service allowing customers to convert crypto to fiat for purchases at checkouts. Customers holding Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in PayPal digital wallets can now pay with them in place of regular money.
The service will boost the use of crypto majorly. It will be expanded to all of its 29 million merchants worldwide. PayPal plans to introduce this service outside the U.S. in the coming months. For now, only U.S. citizens are eligible for using the service.
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. —Dan Schulman, CEO of PayPal.
In October 2020,
This article was first published on coinquora.com