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Global News Select

PayPal Lets Business Accounts Buy, Hold and Sell Cryptocurrency

Provided by Dow Jones

Sep 25, 2024 8:25pm

By Stephen Nakrosis

PayPal Holdings said most of its U.S. merchants will now be able to buy, hold and sell cryptocurrency directly from their PayPal business accounts.

The functionality for those accounts won't be available in New York at the launch, PayPal said on Wednesday.

PayPal also said business account holders will be able send and receive supported cryptocurrency tokens to and from external blockchain addresses.

The company said the move was to increase cryptocurrency's utility by making increased functionality available to millions of merchants in the U.S.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 25, 2024 16:25 ET (20:25 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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