PayPal Allows US Business Accounts to Buy, Sell and Hold Cryptocurrencies

Reading Time: < 1 minute

PayPal has recently made a major announcement allowing businesses in the US to directly buy, hold, sell, and transfer cryptocurrencies, all from their business accounts.

This new feature brings the same digital asset services that were previously only available to individual users, to business owners.

However, the update will not be initially available for businesses in New York State. This move demonstrates the growing interest of businesses in utilizing digital currencies for their operations and investments.

According to Jose Fernandez da Ponte, PayPal’s Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, this new feature will make it easier for small business owners to engage with digital assets without any hurdles.

In addition to being able to purchase, store, and sell cryptocurrencies, merchants can now also withdraw or deposit assets from other wallets.