Seeking Alpha
2020-06-22 19:13:20

PayPal, Venmo plans to start direct crypto sales - CoinDesk

Currently, PayPal ([[PYPL]] +3.7%) is an alternative for withdrawing funds from exchanges such as Coinbase, but the move marks its entry into offering direct sales of crypto, CoinDesk reports, citing three people familiar with the matter.One of the people explained that PayPal will have a sort of built-in wallet functionality to allow its users to store crypto.They didn't know how many or which cryptocurrencies would be available, but that the fintech would be working with multiple exchanges.The new services may arrive in the "next three months, maybe sooner," one of the people said.PayPal isn't the first fintech to offer crypto — Square's Cash App allows users to buy bitcoin and Robinhood first offered cryto in February 2018.Bitcoin performance over the past year:

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