Business • Economy

PayPal announces launch of cryptocurrency service

PayPal has announced that cryptocurrencies such as bitcoin will in the future be supported by their services and will enable users to buy, hold and sell digital currencies through their platform.

PayPal President and CEO Dan Schulman has stated that "our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange".

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