Payment solutions business PayPal at present lets US-based mostly customers to acquire up to $ a hundred,000 in cryptocurrencies weekly.
In a July 15 announcement, PayPal mentioned it raised the cryptocurrency acquire restrict for some US-based mostly shoppers from $ twenty,000 to $ a hundred,000 per week. The business mentioned the move is meant to give customers a lot more preference and versatility when getting cryptocurrencies.
We are pleased to announce that we have just lately elevated the acquire limits of #Cryptocurrency for eligible PayPal shoppers in the United States at $ a hundred,000 per week with no yearly acquire limits. To know a lot more: https://t.co/5zTnnJ5LU4 pic.twitter.com/pG4pTGxUVz
– PayPal (@PayPal) July 15, 2021
This is a welcome alter from PayPal’s preliminary move when customers have been constrained to obtaining $ ten,000 per week, as PayPal announced it would move to the crypto room in October 2020, therefore making it possible for eligible shoppers based mostly in the United States to use cryptocurrencies for transactions and payments.
Not only that, PayPal partnered with Coinbase to allow the acquire of cryptocurrency as a result of the exchange, when PayPal-owned payment business Venmo launched cryptocurrency trading in April.
Prior to Venmo’s announcement, CEO Dan Schulman mentioned he expects the regular month to month volume of cryptocurrency trading on PayPal to attain $ 200 million in just a handful of months.
PayPal at present has about 392 million energetic consumer accounts as of the initially quarter of 2021. The business has continued to invest in blockchain-targeted businesses, like Blockchain Capital and the blockchain intelligence platform TRM Labs.
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