American merchants can directly purchase, hold, and sell cryptocurrencies from PayPal corporate accounts.

Author: Meta Space DAO

Article source: Meta Space DAO

Payment giant PayPal released a press release yesterday stating that American merchants can directly purchase, hold, and sell cryptocurrencies from PayPal corporate accounts, but this cryptocurrency service will not be initially open to corporate accounts in New York State.

Since October 2020, payment giant PayPal has been providing US users with the option to purchase, hold, and sell cryptocurrencies for the first time. After expanding this service to its mobile payment service Venmo in 2021, PayPal continues to work in the cryptocurrency field, attempting to bring existing users and merchants into the cryptocurrency industry.

After nearly 4 years, PayPal announced in a press release on the 25th that American merchants can directly purchase, hold, and sell cryptocurrencies from PayPal corporate accounts, but this cryptocurrency service will not be initially open to corporate accounts in New York State.

Jose Fernandez da Ponte, Senior Vice President of Blockchain at PayPal, stated that since we introduced the feature where PayPal and Venmo users can buy, sell, and hold cryptocurrencies in their wallets, we have gained a deeper understanding of how they use cryptocurrencies.

However, an increasing number of businesses have expressed a desire to obtain the same cryptocurrency features as consumers. To meet this demand, we are pleased to launch this new service to help businesses easily use digital currencies.

Not only that, PayPal also allows American merchants to transfer cryptocurrencies from the chain to supported third-party wallets.

According to a 2023 statistical data, there were approximately 17317147 websites worldwide that could use PayPal last year, with over 1039766 websites using PayPal in the United States and 308166 websites reporting using PayPal for online transactions in the United Kingdom.

It is expected that by the end of 2024, the global number of PayPal users will reach 236.7 million.

PYUSD market value exceeded 1 billion US dollars in August

In addition, Paypal's stablecoin PYUSD, which was issued on the Ethereum chain last year, has also experienced significant growth this year. Among them, PYUSD's launch on the public chain Solana in May this year is the key to rapid growth. Paypal stated that Solana is known for its extremely low-cost and high-speed processing of large amounts of transactions, providing significant advantages for commercial use cases. As the most commonly used blockchain for stablecoin transfers, Solana has become the leading blockchain for running tokenized transactions, and as Solana continues to be used in payment applications, it has become an ideal choice for PYUSD. Recently, the Solana ecosystem PayFi narrative has flourished, causing PYUSD's market value to surpass the $1 billion mark in August. (However, as the subsequent rewards expire, the circulation seems to have declined again)

Former PayPal CEO: Bitcoin outperforms fiat in cross-border transactions

According to reports, at the Microstrategy World 2024 event held in Las Vegas in May, David Marcus, former president of PayPal and current CEO of Lightspark, shared the prospects of combining artificial intelligence (AI) with Bitcoin (BTC) during the "Bitcoin for Companies" segment.

David Marcus believes that Bitcoin has the potential to become the primary trading currency for AI and describes it as "maximally neutral". For AI systems operating in different countries or regions, this characteristic gives it an advantage over traditional fiat currencies such as the euro or dollar.

Marcus emphasized at the meeting that Bitcoin can eliminate the inherent inefficiencies and frictions of fiat currency. He predicts that AI agents will adopt this' digital native 'trading medium.

(责任编辑：个股)

• ·西安公积金贷款利率是多少？我今年想在西安定居买房。
• ·【数据看盘】多只券商ETF成交额大增 中国长城遭四家游资席位联手甩卖超15亿
• ·ChatGPT 评估瑞波币价格预测：XRP 在 100 美元时有多可行？
• ·比特币行情软件很不好-比特币行情软件哪个好
• ·马斯克确认特斯拉与xAI暂无合并计划
• ·铁建重工：2024年1-9月承揽合同总额105.89亿元，同比增长49.27%，研发投入6.31亿元
• ·投资矿机什么意思 现在市面上投资矿机是什么意思
• ·莱绅通灵第八大股东南京克复荣光企业咨询合伙企业(有限合伙)减持329.26万股
• ·全球交易量最大的加密货币交易所宣布即将在币安Alpha平台上支持面向消费者的山寨币
• ·有色金属行业31日主力净流出7.96亿元，银邦股份、兴业银锡居前
• ·特朗普又作妖，美联储今年票委发声：降息门槛更高了
• ·大摩：予赣锋锂业(01772)“增持”评级 目标价19港元
• ·安邦集团股票-安邦集团股票代码
• ·税盘服务费每年都要交吗
• ·trat币行情非小号
• ·上海农商银行股票代码-上海农商银行股票代码农601825