Payment giant PayPal said on Thursday that it will open its newly launched cryptocurrency service to all eligible US users. According to the data tracking website AssetDash, the market value of Bitcoin is close to 300 billion U.S. dollars, making it the 20th largest asset in terms of market value, followed by the famous American home improvement retailer Home Depot and telecommunications giant Verizon. PayPal only ranks No. 29 bits.
The company said in an official statement, “We are pleased to announce that all eligible PayPal account holders in the United States can directly purchase, hold and sell cryptocurrencies through PayPal.”
PayPa CEO Daniel Schulman said on the earnings conference call earlier this month, “Our users are very much looking forward to us providing these features, and our waiting list is larger than expected.”
A spokesperson for the company told the crypto media TheBlock, “Due to the large demand from our customers, we have also increased the weekly cryptocurrency purchase limit from US$10,000 per week to US$20,000 per week.”
According to a previous report by “Betwee”, PayPal announced on October 21 that it would allow customers to use its online wallet to buy, sell and hold Bitcoin and other virtual currencies.
Schulman said in an interview at the time that the company hopes that this service will encourage the global use of virtual currencies and prepare its network to support new digital currencies that may be developed by central banks and companies. He mentioned, “We are working with central banks to consider various forms of digital currencies and how PayPal can play a role in them.”
PayPal also plans to expand its business to Venmo and other countries in the first half of 2021.
According to statistics, when PayPal announced this plan three weeks ago, the price of Bitcoin was still above $12,000, but it has now exceeded $16,000, an increase of more than 30%.
Author Liang Che
