PayPal Brings Crypto Custody Support to U.S. Business Accounts
The move marks another major expansion into crypto for the fintech giant.
Fintech payments giant 
PayPal is enabling crypto support for millions of merchant accounts!
What’s the Scoop?
- Crypto Corporations: PayPal announced Wednesday that it is extending crypto custody, swapping, and transfer functionalities – previously restricted to consumer accounts – to U.S. business accounts in every state except New York and Hawaii.
- Latest Crypto Push: This latest news from PayPal comes amid continued embrace of its PYUSD stablecoin, which has quickly grown to become the 6th largest stablecoin by market cap with nearly $750 million in circulating supply.
Bankless Take:
Seamless crypto support through a widely adopted fintech payments platform undeniably increases the accessibility of digital assets, but only time will tell if this latest development can finally catalyze mainstream acceptance for blockchain-based payments among corporations.
BREAKING: PayPal is launching crypto custody, swapping, and transfer functionalities for business accounts
— Bankless (@BanklessHQ) September 25, 2024
Which mainstream corporation will be the first to accept crypto payments?
Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
