PayPal Holdings announced nearly two years ago that they will allow users to send cryptocurrencies to other wallets, even bitcoins, almost exactly 2 years after their first venture into the cryptocurrency industry.

PayPal Now Accepts Crypto Transfers

PayPal announced Tuesday 7th June that it will support native digital asset transfer between PayPal and other wallets or exchanges.

According to SVP and General Manager of Blockchain, Crypto and Digital Currencies at PayPal Jose Fernandez da Ponte, “this feature was the most demanded from our users since we began offering the purchase of crypto on our platform.”

As stated in PayPal’s press release, the feature will be made available to select U.S. users starting from Tuesday, and will be rolled out to all eligible U.S. customers “in the coming weeks”.

Individuals will now be able transfer crypto supported by PayPal without any fees and no network charges using the brand new PayPal feature.

However, users will be charged fees for sending cryptocurrency to other blockchain networks. They will still have the ability to send crypto directly to any person on PayPal.

Flipside

• PayPal Holdings Inc (NASDAQ:). has converted its conditional virtual currency license into a full-fledged “BitLicense”, as issued by the New York Department of Financial Services (NYDFS).

Why you should care

The integration of crypto into PayPal, one of the world’s biggest payment platforms, is billed to make waves in furthering the adoption of cryptocurrencies.

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