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PayPal Brings Crypto Custody Support to U.S. Business Accounts

The move marks another major expansion into crypto for the fintech giant.
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Sep 25, 2024 • 1 min read

Fintech payments giant PayPal is enabling crypto support for millions of merchant accounts!

What’s the Scoop?

  • Crypto Corporations: PayPal announced Wednesday that it is extending crypto custody, swapping, and transfer functionalities – previously restricted to consumer accounts – to U.S. business accounts in every state except New York and Hawaii.
  • Latest Crypto Push: This latest news from PayPal comes amid continued embrace of its PYUSD stablecoin, which has quickly grown to become the 6th largest stablecoin by market cap with nearly $750 million in circulating supply.

Bankless Take:

Seamless crypto support through a widely adopted fintech payments platform undeniably increases the accessibility of digital assets, but only time will tell if this latest development can finally catalyze mainstream acceptance for blockchain-based payments among corporations.

 

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

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