PayPal Holdings became one of the largest companies to enter the market for digital currencies as it has started allowing U.S. consumers to use their cryptocurrency holdings to pay for its online merchants.
This move that could significantly boost use of digital assets in everyday commerce.
In the coming months, customers who hold Bitcoin, Ethereum, Bitcoin Cash and Litecoin in PayPal digital wallets can convert their holdings into fiat currencies to make purchases for all of PayPal’s 29 million global merchants.
PayPal’s launch comes after Visa said it would allow customers to use cryptocurrency USD Coin in transactions made across its payment network, while Tesla would start accepting bitcoin payments for its cars.
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