đąPayPal Holding Nearly $1 Billion Worth of Crypto for Their Customers
PayPal, one of the largest electronic payments companies in the world, has recently revealed that it is holding almost $1 billion worth of cryptocurrencies on behalf of its customers. According to a filing with the U.S. Securities and Exchange Commission (SEC), PayPal reported that it is "safeguarding" $943 million in crypto assets as of March 31, 2023. The majority of these assets are bitcoin and ether, which account for $499 million and $362 million respectively.
The company, which also owns Venmo, started offering the option to buy, sell and hold cryptocurrencies on its platform in October 2022.
