PayPal Enables 30 Million U.S. Merchants to Buy, Hold, and Sell Cryptocurrency Including Solana-Based PYUSD

Sep 25, 2024, 07:49 PM

PayPal has announced that it is enabling U.S. merchants to buy, hold, and sell cryptocurrency directly from their business accounts. This new functionality also allows business account holders to send and receive supported cryptocurrency tokens to and from external blockchain addresses. At launch, this feature will not be available in New York State. Additionally, PayPal's announcement highlighted the inclusion of Solana-based PYUSD stablecoin in its services. This move follows PayPal's earlier consumer crypto initiatives and marks a significant milestone in the adoption of digital assets for commerce, given the company's large base of over 30 million merchants.