PayPal previously announced it would enable merchants to accept cryptocurrencies for payment in March, and today went live with the solution for its 29 million merchants. However, for now, it’s only available for those with Paypal cryptocurrency holdings in the United States.
Last year PayPal enabled users to buy and hold certain cryptocurrencies in its wallet through an arrangement with Paxos. It was surprised by the level of demand and afterward commented that it added stickiness to the wallet as users regularly check the valuations.
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet,” said Dan Schulman, president and CEO, PayPal.
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