PayPal has launched a new crypto-related service that allows users to convert their crypto assets into USD. This off-ramp service is now available to wallets, dApps and NFT marketplaces.
In their official statement, PayPal said: “By adding Off Ramps, crypto wallet users in the U.S. can convert their crypto to USD directly from their wallets into their PayPal balance so they can shop, send, save, or transfer to their bank or debit card.”
The payment giant has been expanding its operations in the cryptocurrency space in recent months. This includes the launch of their USD-backed stablecoin on the Ethereum blockchain, and a partnership with Coinbase to offer crypto transactions in Europe.
Ledger has also recently announced a new integration that allows US customers to purchase cryptocurrencies like BTC, ETH and ETH using their PayPal accounts.
Key Takeaways:
• PayPal allows users to convert crypto to USD
• The service is live on MetaMask and available to wallets, dApps and NFT marketplaces
• PayPal launched USD-backed stablecoin on the Ethereum blockchain
• They partnered with Coinbase to offer crypto transactions in Europe
• Ledger integration allows US customers to purchase crypto using PayPal accounts
