New Delhi: PayPal Holdings Inc on Tuesday said it will now allow users to transfer cryptocurrencies, including bitcoin, to external wallets, nearly two years after the fintech giant opened its platform for digital currencies. The San Jose, California-based company said the feature will be available to select US users starting Tuesday and will be rolled out to all eligible US customers in the coming months.
PayPal began allowing customers to buy, sell and hold bitcoin, ethereum, bitcoin cash and litecoin in October 2020. But users were not previously allowed to transfer crypto holdings from its platform.
PayPal said that users were requesting for the new feature ever since the company allowed the buying and selling of cryptocurrencies. Shares of the company were up 0.3% at $87.08.
Since last year, the crypto market has seen an increase in investor interest on crypto investments with large venture investors, celebrities and blue-chip companies. Read also: Sensex fell over 270 points in early trade; Nifty slips below 16,300
However, the prices of such currencies remain volatile, reducing their appeal as a hedge against inflation. Read also: Krishna Srinivasan to head IMF’s Asia and Pacific Division of Directors
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