Payment giant PayPal announced on Wednesday that its US merchants can now purchase, hold, and sell cryptocurrencies directly from commercial accounts, and this feature will not be available in New York State when it is launched.

PayPal also allows US merchants to transfer cryptocurrencies externally to qualified third-party wallets on their in memory blockchain. PayPal business account holders can now receive or send supported cryptocurrencies from external memory blockchain addresses.

Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currency at PayPal, said, "More and more business owners are expressing a desire to have the same cryptocurrency functionality as consumers, and we are pleased to meet this demand by offering this new product to make it easy for them to use digital currency

Related reports: "Paypal and Venmo support Ethereum Domain Name Service (ENS), simplifying cryptocurrency payments" "Paypal's PYUSD market value exceeds 1 billion magnesium! Solana expansion and incentive decisions take effect"

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