In an announcement on Sept. 25, PayPal disclosed that PayPal Business accounts now have the capability to purchase, sell, and trade cryptocurrency directly from their PayPal accounts.
This feature will be accessible to all US merchants, with the exception of those in New York.
Jose Fernandez da Ponte, the senior vice president of blockchain, cryptocurrency, and digital currencies at PayPal, expressed his thoughts on the new offering, stating that business owners have been expressing a desire for the same cryptocurrency capabilities that consumers have.
He added that PayPal is thrilled to fulfill this demand and provide a seamless way for businesses to engage with digital currencies.
In addition to this, merchants who utilize the service will have the option to withdraw their digital assets to external wallets or more secure forms of storage.
