Payments giant PayPal is set to add support for cryptocurrency withdrawals to third-party wallets.
Jose Fernandez da Ponte announced the new functionality during CoinDesk’s Consensus 2021 conference:
We understand there is more utility to those tokens if you can move them around, so we are definitely exploring how we can let people transfer crypto to and from their PayPal addresses.
It’s unclear when PayPal users will finally be able able to move transfer their tokens off the app.
The company initially rolled out its cryptocurrency offering in October 2019.
PayPal is also in “very early” stages of rolling ut its own stablecoin.