The mainstream adoption of digital assets is underway, and there’s been massive support from very important big players such as Elon Musk’s Tesla and more.
Check out what PayPal is doing these days in order to support the boost of crypto adoption.
PayPal expands support for digital assets
The online publication the Daily Hodl notes that PayPal is currently expanding global support for digital assets and bringing crypto capabilities to Venmo this year.
Just to refresh your memory, back in November, payments giant PayPal began allowing its US users to purchase crypto assets through its app.
The online publication mentioned above cites info from Finance Magnate and reveals that PayPal vice president Jonathan Auerbach says the firm will soon extend those crypto services to its UK client base.
This move is demonstrating PayPal’s continuing support for the crypto sector and marks another step on the firm’s path toward further crypto adoption.
The mass adoption of the digital assets has been the main goal of the crypto space and the successful moves \towards its achievement continue.
What PayPal users can do from now on
UK PayPal users, like those in the US, will be able to buy, sell and hold Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) through the payment giant’s app.
As PayPal strengthens its crypto adoption, Pantera Capital CEO reports that PayPal’s crypto services are consuming a large chunk of BTC being introduced to the market, claiming that, as of mid-January of 2021, the firm was purchasing 100% of all newly minted Bitcoin.
“When PayPal went live, volume started exploding. The increase in itBit volume implies that within two months of going live, PayPal is already buying more than 100% of the new supply of Bitcoins.”