Payment processing giant Paypal announced on Thursday that “all eligible Paypal account holders in the U.S. can now buy, hold, and sell cryptocurrency directly with Paypal.” The news follows the company’s announcement to support crypto assets at the end of October.
Paypal’s New Relationship With Crypto Assets
On October 21, 2020, the payment firm Paypal announced that it would soon support bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC). The company said the Paypal customers would be able to buy, sell, and hold the virtual assets.
On November 2, 2020, Paypal CEO Dan Schulman discussed the company’s cryptocurrency support during an earnings call. Schulman revealed plans for Venmo support and increased crypto-asset purchasing limits to $15k.
Paypal’s initial statements also detailed that in early 2021, customers would be able to use crypto assets with its 26 million…