PayPal is stepping up its game in the crypto world! As of September 25, US business accounts can now buy, sell, and store cryptocurrencies directly, making it easier for merchants to use digital assets in their operations. However, New York merchants are left out due to regulations.
This move is part of PayPal’s mission to help both individuals and businesses manage cryptocurrencies. With this new feature, merchants can handle cross-border payments more smoothly. PayPal’s crypto journey started in 2020, allowing personal accounts to trade digital currencies, and it has since introduced PYUSD, a stablecoin backed by the US dollar.
Despite some challenges with PYUSD’s market cap, PayPal remains committed to promoting its use. Overall, these new services aim to make crypto integration simple for businesses, reflecting a growing trend of mainstream adoption of digital currencies.
