Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets can now convert their holdings into fiat currencies at checkouts to make purchases
United States, March 31, 2021 /AlexaBlockchain/ – PayPal Holdings Inc on Tuesday launched “Checkout with Crypto”. The service allows U.S. consumers to use their cryptocurrency holdings to pay at millions of its online merchants globally, a move that could significantly boost use of digital assets in everyday commerce.
- Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets can now convert their holdings into fiat currencies at checkouts to make purchases, the company said.
- The service, which PayPal revealed it was working on late last year, will be available at all of its 29 million merchants in the coming months, the company said.
- With Checkout with Crypto, cryptocurrency is another way for customers to pay and businesses to get paid, adding enhanced utility for cryptocurrency holders.
Dan Schulman, president and CEO, PayPal, commented:
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet. Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.”