Seeking Alpha
2020-06-22 19:13:20

PayPal, Venmo plans to start direct crypto sales - CoinDesk

Currently, PayPal ([[PYPL]] +3.7%) is an alternative for withdrawing funds from exchanges such as Coinbase, but the move marks its entry into offering direct sales of crypto, CoinDesk reports, citing three people familiar with the matter.One of the people explained that PayPal will have a sort of built-in wallet functionality to allow its users to store crypto.They didn't know how many or which cryptocurrencies would be available, but that the fintech would be working with multiple exchanges.The new services may arrive in the "next three months, maybe sooner," one of the people said.PayPal isn't the first fintech to offer crypto — Square's Cash App allows users to buy bitcoin and Robinhood first offered cryto in February 2018.Bitcoin performance over the past year:

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer