Giant global neo-bank PayPal launched a crypto payment service for customers to pay merchants in the United States.
PayPal is a popular global digital banking platform. The services of this platform are focussed on making money transactions from one country to another country without any barriers to the jurisdictions. For a few years, this giant digital bank has provided crypto trading services to customers.
On 11 Sep 2023, PayPal announced a new feature called PayPal On and Off Ramps for all the Web3 platforms. Under the new feature, all the Web3 merchants can easily integrate the PayPal platform as a alternative crypto payment option for
customers.
It will give huge benefits to all the digital wallets, dApps, and NFTs service provider platforms.
This latest feature is a part of PayPal’s existing service, which allows customers to buy and sell cryptocurrencies easily.
This feature launched in the US and it will instantly convert the accepted cryptocurrencies directly into USD and transfer to PayPal balances.
Following the launch of this feature, the popular decentralised crypto wallet Metmask & self custody hardware wallet Ledger Integrated this feature for the customers.
It is worth it to note that PayPal has been continuously expanding its ecosystem toward the crypto sector for the last couple of years.
Last month, on 7 August, PayPal successfully launched its stablecoin PYUSD on the Ethereum blockchain network. The launched stablecoin is very similar to USDC & USDT in terms of decentralised nature.
Also, the announcement by the PayPal team confirmed that PayPal stablecoin will remain available to use for every financial sector, including Crypto.
Just a few days ago, the CryptoCom exchange added support for PayPal Stablecoin, so that customers can trade their crypto assets against PYUSD.
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