Crypto.com and PayPal have announced a new collaboration that will enable US users to purchase cryptocurrencies using PayPal.
Partnership Features
Users will be able to link their PayPal and Crypto.com wallets for easy transfer of digital assets. This feature is currently available only in the US, but the company plans to expand it to other markets. The introduction of PayPal as a payment method also allows topping up Crypto.com Visa Cards.
Market and Economic Indicators
This news coincides with a rise in PayPal's stock, which has surged more than 26% this month. The market cap of PayPal USD (PYUSD) stablecoin recently surpassed $1 billion, reflecting strong growth from its $264 million starting point earlier this year. PayPal also stands to earn significant interest income from PYUSD.
Strategic Plans and Statements
Eric Anziani, President and COO of Crypto.com, emphasized the importance of integrating traditional and digital payment systems for mainstream crypto adoption. He noted that PayPal is a leader in digital commerce and shares their vision of safe and efficient engagement with digital currencies.
This collaboration opens new opportunities for crypto users in the US and underscores both companies' commitment to developing and integrating traditional and digital payment systems.
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