PayPal, Venmo to Roll Out Crypto Buying and Selling
Fintech giant PayPal plans to roll out direct sales of cryptocurrency to its 325 million users, according to three people familiar with the matter.
Currently, PayPal can be used as an alternative means for withdrawing funds from exchanges such as Coinbase, but this would be a first in terms of offering direct sales of crypto.
"My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo," a well-placed industry source told CoinDesk. "They are going to have some sort of a built-in wallet functionality so you can store it there."
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Hello dear @kingscrown.
On the one hand, it is plausible that those responsible for Paypal adapt to the current situation of the economy and adopt cryptography within its structure. It is a way to reinvent themselves.
On the other hand, they should also change their restrictive policy, since crypto symbolizes financial freedom and decentralization. Quite the opposite of what Paypal currently represents.
We will see what happens to this.
All best, Piotr.