1. New Feature for Business Accounts
2. Exclusions for New York
3. Reaction and Reasons

PayPal, one of the world's largest payments companies, has announced a new feature related to cryptocurrencies for business accounts.

New Feature for Business Accounts

PayPal has announced that business account holders in the United States can now buy, hold, and sell cryptocurrencies directly through their PayPal accounts. This expansion is part of PayPal's ongoing efforts to enhance the use of cryptocurrency among millions of US merchants.

Exclusions for New York

This new feature will not be available to merchants in New York State initially.

Reaction and Reasons

Jose Fernandez da Ponte, PayPal's SVP of blockchain, cryptocurrency, and digital currencies, commented, 'Since we enabled PayPal and Venmo consumers to buy, sell, and hold cryptocurrencies in their wallets, we’ve learned a lot about how consumers want to use their cryptocurrencies. Business owners are increasingly voicing their desire for the same cryptocurrency features available to consumers. We’re excited to meet that demand with this new offering that allows them to effortlessly interact with their digital currencies.'

Now, US merchants will be able to not only buy, hold, and sell cryptocurrencies but also transfer supported cryptocurrencies to and from third-party wallets, allowing them to interact with external blockchain addresses.