PayPal added the ability to exchange crypto assets for fiat in the US
Date: 2023-09-12 Author: Karina Ziganova Categories: CRYPTO PAYMENTS
Payment service provider PayPal has announced a new option. Users of the service in the United States have the opportunity to withdraw cryptocurrency into American dollars.
Previously, the company entered into a partnership with counterparties Consensys and Ledger. This allowed PayPal's US customers to purchase crypto assets directly through the platform.
The new option is used for reverse exchange. Clients of the service will be able to convert crypto assets from the above wallets into US dollars, and then transfer them to their PayPal account.
“The integration of [the payment solution] will allow Web3 market participants to expand their user base by connecting to a fast and seamless system trusted by millions,” the press release stated.
The option is already available for some NFT marketplaces, dApps, MetaMask and crypto wallets.
In addition, the announcement also indicates that PayPal plans to add more solutions for purchasing crypto assets in the future. But what exactly we are talking about is unknown at the time of writing.
