PayPal Enables U.S. Business Accounts to Buy, Hold, and Sell Cryptocurrency, Mentions Solana

Sep 25, 2024, 07:28 PM

PayPal has announced that it is enabling its U.S. business account holders to buy, hold, and sell cryptocurrency directly from their accounts. This new functionality also allows business accounts to send and receive supported cryptocurrency tokens to and from external blockchain addresses. The announcement specifically mentions Solana and Solana-based PYUSD stablecoin. However, this functionality will not be available in New York State at launch. PayPal's move is seen as a significant milestone in enhancing the utility of digital assets for its 30 million merchants in the U.S.