In what is the biggest crypto news today, PayPal has announced it will offer its accountholders the ability to buy, hold and sell cryptocurrencies directly from their PayPal digital wallet. The move is a big deal as it is a huge step towards widespread adoption of cryptocurrencies.
However, it should not be a complete surprise given the interest in recent months by central banks and big institutions in cryptocurrencies, digital assets and, particularly, Central Bank Digital Currencies.
The service will initially feature Bitcoin, Ethereum, Bitcoin Cash and Litecoin directly within the PayPal digital wallet. As part of the move, PayPal will provide accountholders with educational content to help them understand cryptocurrencies and blockchain technology.
The full press release can be found here: https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency
"The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly," said Dan Schulman, president and CEO, PayPal.
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