Payments giant PayPal announced on Wednesday that its U.S. merchants can now buy, hold and sell cryptocurrencies directly from business accounts, a feature that will not be available in New York state at launch.
PayPal also allows U.S. merchants to externally transfer cryptocurrencies on the blockchain to qualified third-party wallets. PayPal business account holders can now receive or send supported cryptocurrencies from external blockchain addresses.
Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrencies and Digital Currencies at PayPal, said: “More and more business owners are expressing a desire to have the same cryptocurrency capabilities as consumers, and we are excited to offer this new product through to meet this need and allow them to use digital currencies easily.”
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