PayPal makes crypto transfer available to select US users
PayPal now supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges. This feature has been consistently ranked by users as one of the most requested enhancements since PayPal began offering the purchase of crypto on its platform.
Available now to select U.S. users and rolling out to all eligible U.S. customers in the coming weeks, this new functionality lets PayPal customers transfer supported coins into PayPal, as well as move crypto from PayPal to external crypto addresses including exchanges and hardware wallets.
PayPal has also been granted a full Bitlicense by the New York Department of Financial Services (NYDFS) – becoming the first company to convert a conditional Bitlicense into a full Bitlicense.
Jose Fernandez da Ponte, Senior Vice President and General Manager, Blockchain, Crypto & Digital Currencies, commented:
“We’re excited to connect PayPal’s customers to other wallets, exchanges, and applications, and we will continue to roll out additional crypto features, products, and services in the months ahead. We look forward to hearing more customer and community feedback as we enhance our digital currency capabilities”.