PayPal Introduces Crypto Functions for U.S. Business Accounts

PayPal has unveiled new features for U.S. business clients, enabling them to buy, hold, and sell cryptocurrencies. Announced on Wednesday, the global online payments company stated that these services will initially exclude New York State residents.

Additionally, PayPal is allowing U.S. merchants to transfer cryptocurrency on-chain to third-party eligible wallets. This means business account holders can now send and receive supported crypto tokens to and from external blockchain addresses.

These enhancements are part of PayPal’s broader strategy to increase crypto utility for its U.S. clients, reflecting the growing demand from business owners for similar capabilities available to consumers.