(PayPal) PayPal has announced a new crypto feature that will allow transfers of cryptocurrencies from the platform to other wallets and exchanges.
The payment giant said that the implementation of the new crypto feature was prompted by user demand.
Users can deposit crypto into their PayPal account and send it to others. The option also lets users withdraw digital assets to crypto addresses, hardware wallets, and third-party exchanges.
The payments giant said that the new capabilities apply to supported digital tokens, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
The company said that the crypto feature would be available to limited US users before being extended to all US customers in future weeks.
In pursuit of a full digital asset offering, PayPal also said that it obtained a full Bitlicense from the New York Department of Financial Services. The award makes the payments service firm the first to convert a Conditional Bitlicense to a full Bitlicense.
PYPL: NASDAQ is down -0.33% in premarket.
