PayPal allows users to transfer Bitcoin and Ethereum to an external wallet

The PayPal payment company has implemented new functionalities for its crypto app users.

On June 7, the company announced that users can now send supported tokens – Bitcoin, Ether, Bitcoin Cash, and litecoin – to external addresses, including those associated with exchange accounts and hardware wallets. This is a feature that has been expected by many people, even though the service is similar to other cryptocurrency companies.

“Starting today, PayPal supports natural electronic money transfers between PayPal and other wallets and exchanges,” the financial giant said.

It should also be noted that PayPal did not abandon its ambitious cryptocurrency plans despite the financial downturn that caused the company’s share price to fall in recent months.

PayPal also said in its announcement that it had been granted a full BitLicense by the New York Department of Financial Services (NYDFS), converted from the conditional version of the license.

“Adding the ability to transfer, send and receive cryptocurrencies is another step in our journey to build a more inclusive and efficient financial system,” Jose Fernandez da Ponte, SVP and GM of blockchain, cryptocurrencies, and digital currencies at PayPal, said in a statement. “We’re excited to connect PayPal customers with other wallets, brokers, and apps, and we’ll be rolling out additional crypto features, products, and services in the coming months.”

DISCLAIMER: The Information on this website is a general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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