As recently as February, PayPal customers’ weekly crypto purchase limit was $20,000. PayPal first let customers buy, sell, and hold cryptocurrencies — bitcoin, ethereum, bitcoin cash, and litecoin — directly from their PayPal accounts in October 2020. PayPal’s crypto offerings are enabled through a partnership with crypto services company, Paxos Trust Company, which custodies and trades the assets on behalf of Paypal customers. When transactions are completed, PayPal customers’ crypto is converted into fiat to settle the transaction with the merchant. Electronic payments provider Visa supports debit cards issued by crypto exchange Coinbase and crypto services provider Crypto.com.

Source: Forbes July 15, 2021 19:41 UTC