May 4, 2024

PayPal Allows Withdrawal of Cryptocurrency to External Wallets

The payment company introduced new features related to digital assets and received a full BitLicense fromNew York Department of Financial Services.

Payments company PayPal allowed userstransfer cryptocurrency to each other and withdraw it to third-party wallets. The service supports four digital currencies - Bitcoin, Ethereum, Bitcoin Cash and Litecoin. PayPal has also received a full BitLicense from the New York City Department of Financial Services (NYDFS).

US users gained access to cryptocurrency through PayPal services in November 2020. In March 2021, they were able to pay with digital assets.

Last fall, access to trade and storagecryptocurrencies were received by residents of the UK. Since then, they have also had access to educational content and the ability to track digital asset prices in real time.

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