PayPal introduces cryptocurrency hub

Online payment service PayPal is taking the next step after its own stablecoin with a cryptocurrency hub. Here's what users can expect.

PayPal made headlines just last week with the announcement of its own stablecoin (PYUSD). The online payment service seems to be continuing this pro-crypto course, as the so-called Cryptocurrency Hub is now being introduced in the updated AV.

For PayPal users, the Cryptocurrency Hub will become the new go-to place for all crypto-related services. The move to consider crypto as a separate product group, rather than just a single service, suggests that the online payment service is serious about crypto integration.

In addition to buying and selling and sending and receiving cryptocurrencies, the hub will also be enriched with information and educational content. In particular, the new U.S. dollar stablecoin PYUSD will be incorporated into the hub. It is not yet known what other crypto features or applications may be added in the future.

For now, use of the Cryptocurrency Hub is reserved for select users. It is not known when the service will be made available to all PayPal users. In the future, the hub will be fully integrated into the existing user profile.

Recently, we analyzed the intent of PayPal with its own stablecoin PYUSD and the cryptocurrency in general.