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PayPal to support Bitcoin and other crypto — but merchants must use fiat

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David Canellis


PayPal is ready to let users to buy, sell, and hold Bitcoin and other cryptocurrencies, according to Reuters. PayPal chief exec Dan Schulman told Reuters the company hopes this will “encourage global use of virtual coins,” and ready its network in anticipation of digital currencies issued by central banks. The US payments giant said it plans to allow users to actually spend their cryptocurrency with the 26 million merchants on its network starting early next year. PayPal reportedly boasts roughly than 346 million active accounts, and the service processed $222 billion worth of payments in 2020’s second quarter. As noted by Reuters,…

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