PayPal To Give Access to Cryptocurrency Service for US Residents

Fintech giant PayPal said Thursday it would give access to cryptocurrency services to all eligible US users.

"We are pleased to announce that all eligible PayPal account holders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal,"

— the company said in a statement.

The move follows reports of strong demand from PayPal management. Earlier this month, PayPal CEO Daniel Schulman noted that the company's user base is very eager for it to offer these capabilities, and that the list is larger than expected. PayPal unveiled its cryptocurrency offering plan at the end of October, which caused quite a stir in the markets.

PayPal has also changed its weekly cryptocurrency purchase limit due to high demand from customers. The purchase limit has been increased from $10,000 per week to $20,000 per week.

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