PayPal Enables U.S. Business Accounts to Buy, Hold and Sell Crypto

PayPal (PYPL) will let its business clients buy, hold and sell cryptocurrency directly from their accounts in the U.S., potentially opening up a larger market for the payments giant. After letting its retail users do the same via PayPal and Venmo accounts for several years now, the company also saw demand from business owners to buy, hold and sell crypto, the company said Wednesday. The payments company will also allow U.S. merchants to externally transfer cryptocurrency on-chain to "eligible" third-party wallets, according to the statement. To start, the service will be unavailable to business clients in New York State, the company said.

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