icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

PayPal to allow users to move cryptocurrency to third-party wallets

PayPal to allow users to move cryptocurrency to third-party wallets
US fintech giant PayPal has announced it’s planning to allow users to withdraw cryptocurrency holdings on its platform and move them to third-party wallets.

“We want to make it as open as possible, and we want to give choice to our consumers – something that will let them pay in any way they want to pay,” Jose Fernandez da Ponte, Paypal’s general manager of blockchain, crypto and digital currencies, said on Wednesday at CoinDesk’s Consensus 2021 conference.

Also on rt.com Cryptos stride further into mainstream as new PayPal feature lets users pay with bitcoin, ethereum & more

The California-based company opened its platform to digital currencies in October, but users had not been allowed to withdraw cryptocurrency to third-party wallets.

“They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice,” da Ponte said.

READ MORE: PayPal eyes launching cross-border payments wallet in China

Da Ponte didn’t specify a timeframe, but noted that new developments on the PayPal platform are common about every two months on average.

Cryptocurrencies have attracted substantial funds from big investors over the past year. The inflows triggered massive rallies in the price of most virtual assets, pushing the global crypto market cap to $2 trillion.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts