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PayPal Mounts Crypto Offensive After New York Grants a Full License

  • Users can transfer select coins with other wallets, exchanges
  • Sees long-term adoption of crypto in payments despite downturn
PayPal Application Ahead Of Earnings Figures
Photographer: Gabby Jones/Bloomberg

PayPal Holdings Inc. will let users transfer certain cryptocurrencies to other customers, exchanges and external wallets, a new service that’s part of the company’s effort to boost usage of its app.

“This is really about access and utility,” Jose Fernandez da Ponte, senior vice president and general manager for PayPal’s blockchain, crypto and digital currencies business, said in an interview. “We are greatly enhancing the utility of moving crypto around.”