PayPal to allow cryptocurrency buying, holding and selling for US merchants
Adds background in paragraphs 3,5,6, details from release in paragraphs 4,7
Sept 25 (Reuters) -PayPal Holdings PYPL.O announced on Wednesday it is enabling U.S. merchants to buy, hold and sell cryptocurrency from their business accounts.
Cryptocurrency has moved from being a nascent asset class towards greater market acceptance after bitcoin exchange traded funds were approved for listing by the U.S. SEC earlier in the year.
"Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers," said Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal.
PayPal joined the cryptocurrency market in 2020, allowing customers to buy, sell and hold bitcoin and other virtual coins using the digital payments company's online wallets.
The company became the first major financial technology firm to embrace digital currencies for payments and transfers when it launched its dollar-backed stablecoin in August 2023.
Stablecoins are crypto tokens whose monetary value is pegged to a stable asset to protect potential investors from wild swings in prices.
San Jose, California-based PayPal is also enabling U.S. merchants to transfer cryptocurrency on chain externally to third party eligible wallets.
However, the services would not be available for business accounts in New York State at launch, the company said on its website.
Shares of the company have gained nearly 26% so far this year.
Reporting by Pritam Biswas in Bengaluru; Editing by Krishna Chandra Eluri
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
