The online-payment giant is launching its own crypto service that will allow users to buy, hold and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin on its platform. U.S. users will receive access to the crypto service in the coming weeks, though they will only be able to pay for products and services using digital currency in early 2021. International customers will be able to use the service in the first half of 2021. (The Logic)
Skip to content
The online-payment giant is launching its own crypto service that will allow users to buy, hold and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin on its platform. U.S. users will receive access to the crypto service in the coming weeks, though they will only be able to pay for products and services using digital currency in early 2021. International customers will be able to use the service in the first half of 2021. (The Logic)
Talking point: PayPal has 26 million merchants using its network, and facilitating digital-currency transactions will potentially increase the overall adoption of cryptocurrencies. CEO Dan Schulman also noted in the release that Paypal was “eager” to work with central banks and regulators around the world as they develop their own cryptocurrencies. Investors reacted positively to the news, with the price of Bitcoin rising seven per cent to its highest level in more than a year. PayPal’s stock surged over five per cent on the announcement.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Adam Waterous proposes massive crude exports to Asia by rail through northern B.C.
Briefing
Rivals may be ‘horrified’ to realize how exposed their investments are to AI, Aviva CIO warns
Shopify, Sequoia co-lead US$200M investment in online-selling platform Whop
Amid revenue gains, 1Password bets on tools to protect data from AI agents
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
