US-based customers now have access to PayPal's crypto services

Quick take

1 minute read

• Earlier this week on the 12th of November, the crypto trading and payments network for PayPal went live for all eligible customers in the United States.

• In the announcement, the company ended its waitlist for customers who were hoping to use crypto trading in the US trading featuring a limit of $20,000 on a weekly basis.

Earlier this week on the 12th of November, the crypto trading and payments network for PayPal went live for all eligible customers in the United States.

In the announcement, the company ended its waitlist for customers who were hoping to use crypto trading in the US trading featuring a limit of $20,000 on a weekly basis.

This is interesting because this is double the original announced limit of $10,000.

26 million merchants on a global scale are what PayPal is aiming for, for their crypto trading services.

The Chief Executive Officer of PayPal, Dan Schulman has highlighted that the shift to supporting crypto was driven by what he sees as something that was bound to happen when it comes to the world of crypto. He further said:

"The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly."

PayPal is getting ready to launch their global services for their crypto trading venture in the early months of 2021.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.