Paypal: now you can pay in cryptocurrencies
PayPal Holdings Inc will announce on Tuesday that it will begin allowing U.S. consumers to use their cryptocurrencies to pay millions of its online merchants globally, a move that could significantly increase the use of digital assets in daily commerce.
Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their crypto to fiat currencies at the checkout to make purchases, the company said.
The service, which PayPal revealed it had been working on since late last year, will be available to all of its 29 million commercial customers in the coming months, the company said.
"This is the first time you will be able to seamlessly use cryptocurrencies in the same way as a credit or debit card within your PayPal wallet," President and CEO Dan Schulman told Reuters before a formal announcement.
“Checkout with Crypto” will build on the ability for PayPal users to buy, sell and hold cryptocurrencies, a service that the San Jose, California-based payment company launched last October. In this way, paypal has become the largest payment company in the sector.
Bitcoin's value has nearly doubled since the beginning of this year, driven by increased interest from larger financial companies that are betting on greater adoption and seeing it as a hedge against inflation.
PayPal's launch comes less than a week after Tesla Inc said it would start accepting bitcoin payments for its cars. Unlike PayPal transactions where merchants will receive fiat currency, Tesla said it will not exchange bircoins obtained as payments into ordinary currency.
PayPal hopes its service will contain Bitcoin's excessive olatility, converting it into a true ordinary payment tool.
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The Paypal article : now you can pay in cryptocurrencies comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/paypal-ora-si-puo-pagare-in-criptovalute/ on Tue, 30 Mar 2021 12:28:38 +0000.