PayPal has updated its app, which is fine and a completely normal thing for companies to do, except for the fact you can now hold and sell crypto in it.
PayPal announced it was getting into the cryptocurrency game last October after receiving a conditional BitLicense from the New York State Department of Financial Services.
The BitLicense allows PayPal to buy, sell and hold bitcoin, bitcoin cash, ether, and litecoin.
The company launched Checkout With Crypto in March, allowing you to, well, check out with crypto. And the new app brings this dream further to life for the once go-to service to buy low-value gear from eBay.
Adding crypto capabilities allows PayPal to push its dream to be the “primary destination for customers to easily manage their day-to-day financial lives”.
The updated app also introduces PayPal Savings, a new ‘high yield’ savings account provided by Synchrony Bank, alongside new in-app shopping tools that will enable the earning of rewards redeemable for cash back or PayPal shopping credit. [Source: MSN News]