PayPal, the online payment processing giant announced the launch of a crypto checkout service for US customers today. This would allow customers to pay in four cryptocurrencies that PayPal currently supports including Bitcoin, Ether, Litecoin, and Bitcoin Cash. This is a significant breakthrough for crypto adoption and usage worldwide given PayPal has over 300 million users and nearly 20 million active merchants.
Earlier last year PayPal added support for the above-mentioned four cryptocurrencies, however, the users could only buy/sell or hold within the app without any option for using it as a form of payment. The growing demand for cryptocurrencies has brought a rapid change in the stance of many mainstream payment processing giants and financial institutions who are rushing to add crypto support in one form or another.
Yesterday VISA also announed that it would allow the spending of cryptocurrencies using Ethereum and USDC.
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