Recently, the crypto market has lacked positive news. This is why the news that in the near future, PayPal will allow US consumers to make purchases with their cryptocurrency has sparked optimism among crypto investors. PayPal will also let its clients send cryptocurrency to third-party wallets.
Speaking at CoinDesk's Consensus 2021 virtual conference, Jose Fernandez da Ponte, PayPal's head of blockchain, said: "We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay." Yet, he also noted that the feature is currently under development. Some experts think that the company will do everything possible to launch a crypto checkout service as soon as possible.
Importantly, PayPal became one of the first major international payment services that launched the function of making purchases with cryptocurrency. Virtual money in the payment transactions will be converted into fiat currency without additional fees and commissions. In addition, the company provided access to the purchase, sell, and storage of cryptocurrency when using an online wallet in October last year. "This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet," President and CEO Dan Schulman stressed.
PayPal is the largest international online payment system that allows customers to pay bills and purchases, as well as send and receive money transfers.
