(Reuters) – PayPal said on Tuesday it will allow users to transfer cryptocurrencies, including bitcoin, to external wallets, nearly two years after the giant opened its platform to digital currencies.
The feature will be available to US users as early as Tuesday and will roll out to all eligible customers in the coming months, the California-based company said.
PayPal began allowing customers to buy and sell bitcoin, ethereum, bitcoin cash, and litecoin in October 2020. But users were previously not allowed to move cryptocurrency holdings from its platform.
Users have been asking for this feature since the company allowed the buying and selling of cryptocurrencies, PayPal said. Since last year, the cryptocurrency market has seen a surge in interest from major venture capitalists, celebrities and large companies doubling down on investments in these assets. But the prices of digital currencies have fallen and they have lost their appeal as a hedge against inflation.
(Reportagem de Niket Nishant em Bengaluru)