PayPal Enables Crypto Features in Its Mobile App

PayPal, the world's leading payment platform, has added cryptocurrency features to its mobile app. Starting from 15 August, the application users can buy, sell, and transfer several cryptocurrencies.

This comes after the fintech launched a new feature that allows users to transfer cryptocurrencies to external crypto addresses​, including exchanges and hardware wallets in June. 

PayPal started to support transactions of bitcoin, ethereum, bitcoin cash and litecoin in October 2020. However, transferring crypto assets off its platform were not permitted before. According to PayPal, its customers had been asking the rollout of a cryptocurrency transfer feature ever since the company allowed cryptocurrency trading.

The crypto assets that can be now accessed through the application are Ethereum, Bitcoin, Bitcoin Cash, and Litecoin. According to the official website, the funds remain protected without any digital key. The mobile version will only support internal transfers and does not require a MetaMask account.