Share this article
PayPal Enables U.S. Business Accounts to Buy, Hold and Sell Crypto
The service won't be available to New York state businesses in the beginning.
Updated Sep 26, 2024, 9:03 p.m. Published Sep 25, 2024, 7:34 p.m.
PayPal (PYPL) will let its business clients buy, hold and sell cryptocurrency directly from their accounts in the U.S., potentially opening up a larger market for the payments giant.
After letting its retail users do the same via PayPal and Venmo accounts for several years now, the company also saw demand from business owners to buy, hold and sell crypto, the company said Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers," said Jose Fernandez da Ponte, senior vice president of blockchain, cryptocurrency, and digital currencies at PayPal in a statement.
The payments company will also allow U.S. merchants to externally transfer cryptocurrency on-chain to "eligible" third-party wallets, according to the statement.
To start, the service will be unavailable to business clients in New York State, the company said, without giving a timetable for when that would change. The company is one of the 20 or so recipients of the Empire State's notoriously stringent BitLicense. It also has a trust license from the state's Department of Financial Services.
Since 2020, PayPal has allowed consumers to buy, hold and sell cryptocurrencies directly from their accounts. Last year, it unveiled its U.S. dollar-denominated stablecoin, , which reached a $1 billion market cap this summer.
Read more: PayPal's Stablecoin Hits $1B Market Cap as Incentives Boost Activity on Solana
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
