PayPal is one of the largest online payments providers worldwide with over 346 million active accounts and processing over $222 billion in payments in the second quarter of 2020.
PayPal now becomes the latest online payments company to support cryptocurrencies after other large fintech payments providers like Square and Robinhood enabled their users to buy and sell cryptocurrencies.
According to the company, crypto payments will be settled in fiat currencies like the U.S. Dollar. PayPal users will thus not receive payments in virtual coins.
The service will be available to PayPal account holders in the U.S. in the coming weeks and initially feature #Bitcoin, #Ethereum, #BitcoinCash and #Litecoin directly within the PayPal digital wallet.