PayPal will launch its own cryptocurrency wallet :: RBC.Crypto

The payment company is developing a financial super-application for US residents that will support tools for working with high-yield savings accounts, investment services and other services

Payment company PayPal has announced the launch of its own cryptocurrency wallet that US residents will be able to use. This was announced by PayPal CEO Dan Shulman during conferences with investors at the end of the 2nd quarter of 2021.

According to him, the developers have already completed work on the wallet and in the coming months it will be integrated into the company’s super application. Wallet users will be able to use additional functionality, as well as exchange messages.

In February Shulman reportedthat the company plans to develop a financial super-application (analogous to Alipay and WeChat Pay). It will combine tools for working with high-yield savings accounts, investment services and other services.

In July PayPal increased weekly limit on the purchase of cryptocurrency for some US clients up to $ 100 thousand. Previously, users could purchase digital assets for an amount not exceeding $ 20 thousand. In May, the payment company allowed users to withdraw their cryptocurrency to third-party wallets.

US PayPal customers now have the option to pay with cryptocurrency back in March this year. Digital coins are converted to fiat at the time of payment.

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You can find more news about cryptocurrencies in our telegram channel RBC-Crypto.

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