PayPal confirms some account holders will now be able to buy, hold and sell cryptocurrencies such as Bitcoin.
PayPal has announced that it will now facilitate transactions in Bitcoin, with the buying, holding and selling of Ethereum, Bitcoin Cash and Litecoin will also be supported. Bitcoin and a handful of other cryptocurrencies have been in circulation for a number of years now, and they are part of a broader transition that has seen the financial services arena increasingly embrace digitalisation. In fact, many banks are now planning to issue their own digital currencies. “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,” Dan Schulman, president and CEO of PayPal, explained.
