- PayPal discloses holding 943 million in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash of their customers.
- Venmo, owned by PayPal, introduces a feature that allows its 75 million users to send and receive cryptocurrencies.
- This move is expected to significantly boost PayPal’s cryptocurrency holdings.
PayPal, the global online payments giant, has recently disclosed their cryptocurrency holdings. The company holds an impressive 943 million of customer Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. These holdings are expected to rise even further following recent developments.
Venmo, a mobile payment service owned by PayPal, announced the introduction of a new feature. This allows its 75 million customers to send and receive cryptocurrencies. Given Venmo’s vast customer base, this move is likely to significantly boost PayPal’s crypto holdings.
Cryptocurrencies have become increasingly mainstream, with major corporations such as PayPal and Venmo adopting them. This shift is seen as a crucial step in the global adoption of digital currencies.
With Venmo’s new feature, users can now transact in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This increased accessibility and convenience could see a surge in the number of people using cryptocurrencies for everyday transactions.
As more Venmo users take advantage of this feature, PayPal’s crypto holdings are anticipated to increase. This could further strengthen PayPal’s position in the global cryptocurrency market.
