PayPal to Allow s to Withdraw Cryptocurrency to Third Party Wallets 1020 Technology News

PayPal opened its platform to digital currencies last October. 2r3t40

By Reuters | Updated: 27 May 2021 10:40 IST

PayPal to Allow s to Withdraw Cryptocurrency to Third Party Wallets

US holders will be able to buy, sell, and hold cryptocurrencies in their PayPal wallets 494t2k

Highlights

PayPal planned to expand the service to peer-to-peer payment app Venmo
Bitcoin jumped as much as 6.5 percent to $40,904 (roughly Rs. 29.7 lakhs)
Ether climbed over 7.5 percent

ment

PayPal said on Wednesday it plans to allow s to withdraw cryptocurrency to third party wallets.

The San Jose, California-based company, that opened its platform to digital currencies last October, at present does not let s move cryptocurrency holdings off its platform.

The news was earlier reported by PayPal's blockchain, crypto, and digital currencies business unit. Speaking at CoinDesk's Consensus 2021 conference, Fernandez da Ponte said, “They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice.”

PayPal Launches Cryptocurrency Checkout Service in US

Last year, PayPal said that US holders will be able to buy, sell, and hold cryptocurrencies in their PayPal wallets. PayPal planned to expand the service to its peer-to-peer payment app Venmo and some other countries in the first half of 2021.

Other mainstream fintech companies, such as mobile payments provider Robinhood Markets, allow s to buy and sell cryptocurrencies.

On Wednesday, price in India) climbed back above $40,000 (roughly Rs. 29 lakhs) for the first time this week, as recent volatility in the cryptocurrency market showed few signs of dampening down.

PayPal to Shut Down Domestic Payments Business in India From April 1

Bitcoin jumped as much as 6.5 percent to $40,904 (roughly Rs. 29.7 lakhs). Smaller coins, which tend to rise and fall with the largest cryptocurrency, also gained, with price in India) climbing over 7.5 percent to over $2,906 (roughly Rs. 2.1 lakhs).

© Thomson Reuters 2021

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Cryptocurrency Prices across Indian exchanges

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