PayPal Holdings Inc. plans to allow customers to buy cryptocurrency through their accounts and use cryptocurrency for merchant payments.
The company announced Wednesday that it is introducing a way for customers to buy, hold, and sell certain cryptocurrencies within the PayPal PYPL, +4.57% wallet. This will roll out over the coming weeks in the U.S.
Initially, PayPal users will be able to buy Bitcoin BTCUSD, +4.73%, Ethereum ETHUSD, +4.32%, Bitcoin Cash BCHUSD, +7.51%, and Litecoin LTCUSD, +11.11%. PayPal intends to bring this function to its Venmo platform and to certain international markets in the first half of next year.