PayPal will allow its users to transfer Bitcoin to other virtual wallets

PayPal will allow its users to transfe

The head of blockchain and cryptocurrencies of the payments company, José Fernández da Ponte, announced that the company will add support to be able to make transfers of Bitcoin and other cryptocurrencies to third-party wallets

Paypal accelerates its link with cryptocurrencies. Its head of blockchain and cryptocurrencies, José Fernández da Ponte, announced this Wednesday that the company will add support to be able to make transfers of Bitcoin and other cryptocurrencies to third-party wallets.

PayPal had created quite a stir last year when it announced that its millions of users could buy and sell Bitcoin. The news, along with the company’s recent decision to add the purchase of Bitcoin to its Venmo service, is seen in the market as an important step in the face of an eventual massive use of cryptocurrencies.

Paypal Cryptocurrencies Bitcoin

“We want our consumers to have the possibility of taking the cryptos they bought with us and transfer them to the destination of their choice,” said José Fernández da Ponte, vice president of Paypal, in a conference organized by the CoinDesk portal.

Currently, PayPal does not allow its users to move cryptocurrency holdings off the platform so, once the announcement is made, it would become one of the main platforms for buying and selling cryptocurrencies in the world.

We want it to be as open as possible and give our consumers the option to bring their crypto to us so that they can use it in trade and be able to take the crypto they acquired with us and take it to the destination of their choice,” said da Ponte.

In March, Paypal announced the launch of the “Checkout with Crypto” service, which allows you to use Bitcoin, Litecoin, Ethereum and Bitcoin Cash as a form of payment in merchants in the United States that, however, will not receive cryptocurrencies but the equivalent of their price. at that time in dollars.