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RRUPDATES📍: From Cash to Crypto - PayPals On-Ramp Function 💵
PayPal, the renowned Silicon Valley-based payments giant, is deepening its foothold in the crypto domain
The R Roundup
September 11, 2023
RRUPDATES📍: From Cash to Crypto - PayPals On-Ramp Function 💵
PayPal, the renowned Silicon Valley-based payments giant, is deepening its foothold in the crypto domain
This novel feature grants U.S. crypto wallet users the ability to effortlessly transition their digital assets into U.S. dollars within their PayPal balance. Such a move not only promotes mainstream adoption but also empowers users with greater financial flexibility - whether it's shopping, transferring funds, or even saving.
A statement from the company detailed..
"This 'off ramp' feature extends its reach not just to individual wallets, but also to decentralized applications (dApps) and the burgeoning NFT marketplace, with MetaMask being one of the early integrants."
Furthermore, Web3 merchants stand to gain a competitive edge, with the potential to plug into PayPal's robust security infrastructure, fortifying their platforms against fraud and streamlining the resolution of chargebacks and disputes.
This strategic maneuver from PayPal is a sequel to other notable crypto endeavors. Last month saw the company debut a stablecoin in collaboration with Paxos, and Ledger also unveiled an integration, allowing U.S. users to purchase cryptocurrencies such as Bitcoin, Ether, and Litecoin directly via their PayPal accounts.
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.
This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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