Announced last fall, the possibility of using cryptocurrencies to pay for purchases on PayPal is now available in the United States.
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A new feature in the portfolio PayPal will provide consumers with the opportunity to ” pay in crypto », Alongside other payment methods, a ad the group in a press release. The service will be “available to millions of online businesses around the world and gradually over the next few months, with customers holding assets in cryptomonnaies in the United States will be able to choose to pay in crypto, transparently, ”says PayPal.
« While the use of payments and currencies digital is accelerating, the introduction of + Settle in crypto + is in line with our action to support the widespread adoption of cryptocurrency PayPal boss Dan Schulman said.
Mastercard and Visa also rely on cryptocurrencies
Concretely, the transactions will be settled in dollars and converted into the applicable currency at standard PayPal conversion rates. The functionality “régler in crypto Will allow consumers to sell cryptocurrency through PayPal and then pay a business for their online purchases in a single, seamless checkout flow, the company says. Customers will be able to select the cryptocurrency of their choice: Bitcoin, Litecoin, Ethereum ou Bitcoin Cash.
PayPal is not the first online payments service to support the use of cryptocurrencies. Square launched in 2018 a application allowing purchases in Bitcoin. On Monday, the credit card issuer Visa announced that it will accept USD Coin, a dollar-backed stablecoin, to settle transactions for some of its cards. In February Mastercard made it known that it would accept direct payments in cryptocurrency by the end of 2021. Ultimately, the trading de cryptomonnaies is increasingly facilitated.
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