🌐 PayPal is expanding its strategy again! Merchants in the U.S. are getting ready for the new wave of cryptocurrencies!
PayPal just announced big news, merchants in the United States can now buy, hold, and trade Bitcoin (BTC) and Ethereum (ETH) directly in their business accounts! Not only does this allow merchants to more easily manage their digital assets, but they can also transfer cryptocurrencies to other wallets or receive tokens from external addresses.
While this news has many merchants excited, those in New York State may need to be patient. Currently, this service does not support New York State, but who knows, maybe it will be available in the near future.
PayPal revealed that the launch of the service was driven by continued demand from merchants to be able to use cryptocurrencies as easily as consumers. This shows the significant growth in market demand for cryptocurrencies and the growing awareness among merchants of the importance of cryptocurrencies.
Meanwhile, Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency and Digital Currencies at PayPal, said business owners are increasingly looking to their customers to enjoy the same cryptocurrency capabilities. This may mean that in the future we may see more merchants accepting cryptocurrencies as a payment method, bringing more convenience to consumers.
Don’t forget, PayPal also launched its own stable currency PYUSD before, and its market value has now reached US$1 billion! Although there is still a gap compared with big players such as USDT and USDC, PayPal's step is undoubtedly promoting the wider acceptance and use of cryptocurrency.
💬 With this move by PayPal, the commercial application of cryptocurrency will become more widespread. This move may also affect future commercial payment methods. Let us look forward to the commercial application of cryptocurrency in future payments!