PayPal announced that it will begin allowing US business accounts to buy, sell and hold crypto assets. However, the function will be unavailable to business accounts in New York. US merchants can also transfer their crypto holdings on-chain to third-party wallets. PayPal to allow US merchants buy and sell crypto Fintech giantPayPal revealed in a press release that it plans to enable US business accounts to buy, store and sell cryptocurrencies.
This functionality aims to meet the growing demand from business owners for capabilities already available to consumers. PayPal also stated that business accounts based in New York will not have access to this new feature after its launch. Additionally, merchants will be able to easily send and receive supported assets to and from eligible blockchain addresses, further expanding their operational flexibility.