Come early 2021, the move will also see users able to spend cryptocurrency via their PayPal wallet at all 26 million merchants in the payment giant’s network.
In the next year, the digital wallet provider also plans to expand this offering to its social payments service, Venmo, as well as reach customers beyond the US.
A move closer to CBDCs
Around the world, PayPal has roughly 346 million customers, according to Statista. In the US, PayPal accounts for around 14% of online payments, according to PaymentsJournal.