PayPal will allow US business accounts outside New York to buy, sell, hold and transfer cryptocurrencies

Odaily News PayPal has only expanded its presence in the digital asset space by announcing a plan to enable U.S. business customers to buy, sell, hold and transfer cryptocurrencies. “This is PayPal’s latest move to increase the utility of cryptocurrencies by making more features available to millions of merchants across the U.S.,” the company said, adding that the service will not be available to business accounts in the state of New York. “Since we launched the ability for consumers on PayPal and Venmo to buy, sell and hold crypto in their wallets, we’ve learned a lot about how they want to use cryptocurrencies,” PayPal senior vice president Jose Fernandez da Ponte said in a statement. “Business owners have increasingly expressed a desire for the same cryptocurrency functionality available to consumers. We’re excited to meet that demand by delivering this new product that makes it effortless for them to use digital currencies.” PayPal also said it will allow U.S. merchants to transfer cryptocurrencies to “eligible third-party wallets” and receive “supported” tokens from external addresses. (The Block)