Paypal supports crypto transfers to external wallets

Two years after the provision of crypto payments, the global giant in the field of internet payments has decided to expand its services in this area. It was in October 2020 that the payment giant PayPal allowed cryptocurrencies on its platform. This move has significantly helped to move digital assets and move them in the right direction. Now it looks like the company is ready for the next step and an even bigger step in the field of cryptocurrencies. We had the opportunity to learn about this news from the official press release of PayPal.

More specifically, the report states that the company will now provide its customers with the opportunity to send funds from digital assets to external wallets and stock exchanges. This feature has been made available to several select U.S. customers and will later be extended to all U.S. users. It is estimated that four cryptocurrencies will be made available during the first phase, namely Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). More digital assets will follow later. As you can see, this is a big step forward for the crypto industry. The company is also reportedly exploring the possibility of integrating the central bank’s digital currencies, as well as developing its own stablecoin called “PayPal Coin”.