PayPal has announced that PayPal Business accounts in the United States, excluding New York, can now buy, sell, and trade crypto directly. Jose Fernandez da Ponte, PayPal's senior VP of blockchain, cryptocurrency, and digital currencies, shared that merchants can withdraw digital assets to external wallets for added security. In 2023, PayPal introduced the PYUSD stablecoin, backed by US dollar deposits and cash equivalents, expanding it to the Solana network for lower transaction costs. This move aims to promote PYUSD for smaller purchases due to Solana's efficiency. Additionally, PayPal revealed plans for confidential transactions on PYUSD. Despite reaching a $1 billion market cap, PYUSD still trails behind USDT and USDC. The company's efforts reflect a growing trend in mainstream crypto adoption, offering merchants more flexibility and security in their transactions. Read more AI-generated news on: https://app.chaingpt.org/news