The payment company is developing a financial super-application for US residents that will support tools for working with high-yield savings accounts, investment services and other services
Payment company PayPal has announced the launch of its own cryptocurrency wallet that US residents will be able to use.
This was announced by PayPal CEO Dan Shulman during a conference with investors for the second quarter of 2021.
According to him, the developers have already completed work on the wallet and in the coming months it will be integrated into the company’s super application.
PayPal Wallet users will be able to use additional functionality, as well as exchange messages.
In February, Shulman announced that the company plans to develop a financial super app (similar to Alipay and WeChat Pay).
It will combine tools for working with high-yield savings accounts, investment services and other services.
In July, PayPal increased the weekly limit on the purchase of cryptocurrency for some US clients to $ 100,000.
Previously, users could purchase digital assets for an amount not exceeding $ 20,000. In May, the payment company allowed users to withdraw their cryptocurrency to third-party wallets.
PayPal customers from the United States had the opportunity to pay with cryptocurrency back in March this year. Digital coins are converted to fiat at the time of payment.