PayPal is bringing its crypto services to the U.K., its first stop outside of the U.S., company Vice President Jonathan Auerbach said on the company's Feb. 11 Investors Day. It will also bring these services to its Venmo app in the near future, along with plans to begin allowing its network of 29 million merchants to accept cryptocurrency as payment.
PayPal crypto service goes live
The digital payments company’s U.S. customers can now buy and sell bitcoin, ether, bitcoin cash, and litecoin in their accounts, heralding a new level of mainstream availability for cryptocurrencies
Announced last month, the crypto support went live for U.S. customers on Nov. 12, marking a new level of mainstream availability of cryptocurrency. In addition, PayPal said it will “significantly increase cryptocurrency's utility” as it will be usable for purchases at the company’s network of 26 million merchants worldwide.
In major U-turn, PayPal may allow 325M users to buy crypto. Are exchanges under threat?
Experts are upbeat that PayPal’s rumored entry into crypto would be good for the industry—with greater exchange trading volumes ‘across the board’
PayPal is reportedly preparing to start directly selling cryptocurrencies to its 325 million users—with job vacancies for blockchain experts popping up on its careers site. If confirmed, this would be a major U-turn for the fintech giant, and a big step towards mainstream adoption of Bitcoin.
Opinion: On Milo Yiannopoulos getting kicked off of Coinbase 3 minutes after joining
Uses racial slur to defend himself because Milo
Alt-right clown Milo Yiannopoulos got kicked off of crypto trading platform Coinbase in just three minutes—a record no doubt. He had previously been banned from funding site Patreon after just one day. Unlike a digital crypto wallet, the U.S.-based exchange follows a strict KYC (know-your-customer) protocol that involves submitting proof of ID to get your Coinbase Pro account working. So while Bitcoin is free and open, Milo’s ability to link it to a U.S. bank account is not.