You Can Now Send Crypto In PayPal To Other Wallets, Exchanges

PayPal has announced that they are now allowing users to transfer crypto from their accounts to other wallets and exchanges.

“We’re excited to connect PayPal’s customers to other wallets, exchanges, and applications, and we will continue to roll out additional crypto features, products, and services in the months ahead. We look forward to hearing more customer and community feedback as we enhance our digital currency capabilities,” the company said in a statement.

PayPal previously allowed users to purchase and sell cryptocurrency on their platform but did not allow it to be moved out to other wallets and exchanges.

The new functionality will allow PayPal customers to transfer supported coins into PayPal, move crypto from its app to external crypto addresses including exchanges and hardware wallets and send crypto to other PayPal users “in seconds.”

Right now the feature is available to select U.S. users, with a wider rollout planned in the coming weeks. No statement on when the feature will roll out for international users is available as of press time.

PayPal also announced that it was granted a full Bitlicense by the New York Department of Financial Services (NYDFS), after getting a conditional Bitlicense back in October of 2020.

The company said Tuesday that it has become the “first company to convert a conditional Bitlicense into a full Bitlicense.”

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