US traders can now use crypto through PayPal

PayPal now also allows U.S. companies to trade crypto

Trading with crypto for their own business: PayPal is now making it possible in the U.S.
From a press release reveals that the payment service provider is now opening its crypto operations to merchants, after previously serving only consumers. They can buy, store, ship and sell cryptocurrencies through PayPal.

Worldwide, 36 million business accounts use PayPal. The number in the U.S. is not known, but is likely to be a large proportion.

The service is available everywhere in the U.S. except New York. If and when the feature will come to Europe is not yet known.

"Business owners have shown increasing interest in the same opportunities for acquiring cryptocurrencies as consumers," said Jose Fernandez da Ponte, PayPal's crypto vice president.

For business customers, payments across national borders are of particular interest. These can be handled in real time at the lowest cost.
PayPal has been taking small steps in the crypto sector for years.

In 2020, the crypto trading feature was released to regular users.
In 2023, they launched PYUSD, a proprietary stablecoin on Ethereum. In 2024, they expanded to Solana.

The cryptocurrency grew rapidly, but dropped from August to September this year from a market capitalization of one billion dollars to $712 million, mainly due to a decline in demand for Solana.

The CEO of PayPal, Daniel Schulman, has reaffirmed his belief in the transformative power of cryptocurrencies over the years. "They will reshape much of the financial world," he said in a speech in 2022, for example.