The PayPal company will add cryptographic support, which will allow payment system users to buy and sell Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) and store them on the built-in wallet.
The PayPal crypt currency storage fee will not be charged, and until December 31, 2020, the system does not intend to charge a fee when buying or selling cryptovalite.
In addition, according to the message of the payment system, in 2021 the application will be able to pay with digital assets in 26 million retail outlets. It should be clarified that stores will accept crypto value not directly but after conversion into dollars. This was made possible by obtaining a special Bitlicense PayPal license from the New York State Financial Services Authority (NYDFS).
According to RBC, at the first stage, only U.S. users will be able to perform operations with the crypt-currency in the PayPal system; this feature will appear within a few weeks. In the first half of 2021, the company plans to enter the international market.