Users will be able to withdraw Cryptocurrency to third-party wallets, according to PayPal.
The California-based startup, which allowed digital currencies on its platform last year, currently does not allow customers to take their Cryptocurrency assets off of it.
During the Consensus 2021 conference, Jose Fernandez da Ponte, Paypal’s head of cryptocurrency, stated that the business will soon begin accepting bitcoin withdrawals to third-party wallets.
We want to make it as open as possible and give our customers an option, he explained.
Paypal users will be able to move their cryptocurrencies from the platform to third-party wallets as a result of the change.
The changes would apparently apply to Venmo users as well, though the head of cryptocurrency did not indicate when customers will be allowed to start transferring their cryptocurrencies out of Paypal.
Bitcoin, ethereum, litecoin, and bitcoin cash are now supported by the platform.
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