Payments giant PayPal is set to add support for cryptocurrency withdrawals to third-party wallets.
Jose Fernandez da Ponte, VP and General Manager of the company’s blockchain and cryptocurrency division, announced the new functionality during CoinDesk’s Consensus 2021 conference:
It’s unclear when PayPal users will finally be able able to transfer their tokens off the app.
The company initially rolled out its cryptocurrency offering in October 2020 before gradually expanding it.
PayPal is also in the “very early” stages of rolling out its own stablecoin.