Merchants Can Now Trade and Transfer Crypto with PayPal

PayPal now enables U.S. businesses to buy, hold, and sell cryptocurrency, including PayPal USD (PYUSD), from their accounts. This update gives merchants more flexibility, including the ability to transfer crypto to external wallets. Though not available in New York yet, this move expands digital currency options for business owners looking to engage with crypto.

PYUSD, PayPal’s stablecoin, is backed by U.S. dollar deposits, U.S. Treasuries, and similar cash equivalents, offering stability compared to other cryptocurrencies. PYUSD is pegged 1:1 to the U.S. dollar and can be transferred seamlessly between PayPal and external wallets