PayPal Steps Up Crypto Game, Allows US Merchants To Buy, Sell, And Hold Digital Assets
Portfolio Pulse from Aniket Verma
PayPal is expanding its cryptocurrency services to U.S. business account holders, allowing them to buy, sell, and hold digital assets, except in New York State. This move is part of PayPal's strategy to enhance cryptocurrency utility for merchants. The company has previously launched a stablecoin, PayPal USD, and continues to see interest from investors like Ark Invest.
September 26, 2024 | 3:54 am
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PayPal is expanding its cryptocurrency services to U.S. business account holders, excluding New York State. This move could increase the adoption of PayPal's crypto services and potentially boost its stock price.
PayPal's expansion into crypto services for business accounts could drive increased usage and adoption, potentially boosting revenue. The exclusion of New York State may limit some growth, but overall, this is a positive development for PayPal's crypto strategy. The recent investment by Ark Invest suggests confidence in PayPal's direction.
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