Starting from today, will assist with the transfer between the platform and other wallets and exchanges, responding to longstanding customer requests, according to a statement sent out by the financial giant last night.

Launching a new function that allows you to switch to other wallets

PayPal is finally allowing crypto holders to move their digital assets off its platform to other wallets and exchanges, the most frequently requested feature since the buy and sell service. and the fintech giant's crypto holdings went live in October 2020.

Jose Fernandez da Ponte, SVP and GM of , crypto and digital currency at PayPal says:

“Adding the ability to transfer, send and receive cryptocurrency is another step in the journey to building a more inclusive and efficient financial system. We are excited to connect our customers with other wallets, exchanges and apps. We will continue to roll out even more useful features, products and services in the coming months.”

With the launch of the crypto service at the end of 2020, PayPal allows users to trade 4 coins as , , Cash and Litecoin, but cannot transfer these to other wallet addresses like , or hardware wallet. By the first quarter of 2021, PayPal has expanded this service to include Venmo e-wallet.

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Not stopping there, the company also introduced the service "Checkout with Crypto" to support payments in crypto on PayPal. This move immediately caused assist customers in purchasing cryptocurrency through PayPal. Back to Consensus Conference 2021 of CoinDesk Last May, a senior management at PayPal confirmed that PayPal was about to allow customers to withdraw crypto from the app, but has yet to set a specific launch date.

PayPal is known for its steadfast stance and undying belief in the future of the cryptocurrency market. PayPal CEO Dan announced the company is ready to “double” its crypto investment in 2021 and expand its crypto trading service in the UK in the near future. PayPal is also rumored to be developing a coin Guaranteed in US Dollars.

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