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Seeking Alpha 2021-05-26 19:28:08

PayPal to soon allow third-party wallet transfers of bitcoin

To review, PayPal (PYPL) several months ago (as well as Venmo) began allowing the purchase and use of bitcoin (BTC-USD) and three other popular cryptos ([[ETH-USD]], [[BCH]USD]], [[LTC-USD]]). Trouble is, any purchases of crypto one made with PayPal had to stay with PayPal, and as Bitcoiners like to say .... "Not your keys, not your coin."Speaking at Coindesk's Consensus 2021, however, PayPal VP Jose Fernandez da Ponte confirms that his company's nearly 400M customers will soon be able to withdraw their crypto to whatever wallet they wish.Fernandez: "We understand there is more utility to those tokens if you can move them around, so we are definitely exploring how we can let people transfer crypto to and from their PayPal addresses."

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