PayPal Holdings (PYPL) is allowing businesses in the U.S. to buy and sell cryptocurrencies on its platform.
Going forward, all PayPal business accounts in the U.S. will be able to handle crypto, including transferring digital coins and tokens to third-party cryptocurrency wallets.
This is the latest expansion of crypto on PayPal. The company already offers cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) to individual PayPal account holders.
This past summer, PayPal launched its own stablecoin built on the Solana (SOL) blockchain network.
Stablecoins are cryptocurrencies whose value is tied to an underlying asset such as the U.S. dollar or price of gold.
The company has launched several other innovations this year in an effort to attract more users to its platform, including a faster checkout experience and recommendations generated by artificial intelligence (A.I.).
PayPal’s stock has increased 31% over the last 12 months and currently trades at $77.36 U.S. per share.
