PayPal Unveils Cryptocurrencies Hub
With the introduction of its Cryptocurrencies Hub, renowned American payment company PayPal has made another advancement in the field of digital assets. Users can interact with various crypto assets, including Bitcoin (BTC) and Ethereum (ETH), using this feature. The action was taken just one week after the launch of PYUSD, the company’s native stablecoin that is backed 1:1 by the US dollar.
PayPal has updated its terms and conditions to provide users with insights into using the Cryptocurrencies Hub to explore digital assets. The company, which began in October 2020, expanded its services to enable users to buy, sell, and hold assets in their accounts. In March 2021, it expanded its crypto services, allowing customers to checkout at other online businesses using cryptocurrency.
PayPal’s Cryptocurrencies Hub aims to facilitate the seamless buying and selling of cryptocurrencies, enabling users to use the proceeds from their crypto transactions to purchase through the platform. The feature will be integrated with users’ existing accounts and enable swift conversions between PYUSD and various digital assets.
(With inputs from Shikha Singh)
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