Circle CEO Announces First Known Bitcoin Purchase Through PayPal App
Payment company PayPal intends to implement support for the purchase of bitcoin for its customers in the United States in the coming weeks, but has not yet announced an exact timeline. However, new functions have already become available to a limited number of users.
Jeremy Aller, CEO of USDC stablecoin company Circle, announced today that he had used the PayPal app to buy $ 100 worth of bitcoin. Aller accompanied the message with a screenshot.
CEO Circle did not disclose the details of the agreement with PayPal that allowed him to make the first known Bitcoin purchase through the application.
According to the terms of the service, users cannot withdraw, credit cryptocurrency or transfer it to third-party accounts. Commenting on this feature, which caused the disappointment of many members of the cryptocurrency community, Aller wrote: “Crawl, walk, run. They'll get to that. With children's steps ”.
In addition to Bitcoin, PayPal will support Ethereum, Litecoin and Bitcoin Cash. Also, from next year, customers will be able to pay with cryptocurrency at 26 million outlets cooperating with the company. In addition, it is expected that in 2021 access to the offer will be provided to customers from other jurisdictions.
PayPal has an active customer base of 346 million worldwide, with payments in the second quarter reaching $ 222 billion.