The company has long been interested in the crypto market. In March 2021, PayPal enabled US customers to pay with cryptocurrency, but so far, there are only four cryptocurrencies in the application: Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
PayPal also increased the limit on the purchase of cryptocurrency in July to $100 thousand. Before that, it was only $20 thousand.
“This is the first time that you can seamlessly use cryptocurrency like a credit or debit card in your PayPal wallet,” said company president Dan Shulman.
And on July 29, at the Conference with Investors, the company announced the launch of its own cryptocurrency wallet, but only US residents can use it.
PayPal CEO Dan Shulman also said that the developers have finished working on the wallet and are ready to integrate it into the application soon. In addition, Dan Shulman promised that there will be many more interesting functions, and customers will be able to write messages to each other.
This is very good news for the cryptocurrency community. The adoption of cryptocurrencies by payment systems will positively impact this industry. This will create a popularization of bitcoin and altcoins.