PayPal Offers Crypto Insurance
PayPal, the financial services company, has introduced voluntary Reg-E insurance coverage of up to $50,000 for all cryptocurrency users. PayPal will protect customers’ accounts from any unauthorised crypto transfers.
The insurance will help PayPal grow its user base while also protecting its customers from events like FTX and hacks. The insurance, however, will only cover unauthorised crypto transactions and errors.
PayPal will protect customers from unauthorised activity involving the purchase or sale of crypto assets from their accounts, according to updated terms and conditions.
Customers who make unauthorised crypto transfers will be reimbursed up to $50,000 over the account holder’s lifetime.
(With inputs from Shikha Singh)
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