Few traditional financial institutions have embraced cryptocurrency as fervently as PayPal. Earlier this year, the platform introduced its own stablecoin, PYUSD, and is now taking a bold step forward by enabling U.S.-based companies to engage with cryptocurrencies.
In a recent press release, Jose Fernandez da Ponte, PayPal’s Senior Vice President of Blockchain and Crypto, highlighted that this decision was driven by a surge in demand from business owners. “Since we launched the ability for PayPal and Venmo users to manage cryptocurrency in their wallets, we have gained valuable insights into their preferences,” da Ponte stated. “Business owners have increasingly sought similar cryptocurrency functionalities as those available to consumers. We are thrilled to respond to this demand by providing them with this new capability, allowing them to interact with digital currencies with ease.”
