JAKARTA - Crypto trading platform Crypto.com announced on Wednesday August 28 that users in the United States now have the option to use Paypal as a payment method when buying cryptocurrencies. This move is considered an important effort in in integrating traditional payment capabilities with digital, which further encourages crypto adoption among the general public.
With this integration, users can connect their Paypal wallet with Crypto.com wallets, facilitating transfers from Paypal to Crypto.com to buy various types of crypto tokens. Eric Anziani, President and COO Crypto.com, stated that this development is part of their efforts to make crypto more widely accepted by the public.
As part of a broader collaboration between the two companies, Paypal can also now be used to fill balances on Crypto.com Visa cards and support the use of USD Paypal stablecoins on Crypto.com payment platforms. This feature will soon be available on markets other than the United States, according to the announcement.
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Jose Fernandez da Ponte, Senior Vice President for Blockchain, Cryptocurrency, and Digital Currency at Paypal, stressed the company's commitment to giving consumers choices. He added that this collaboration with Crypto.com is a further step in Paypal's journey to expand payment options for its users, allowing them to fund crypto purchases on Crypto.com via Paypal.
In a broader context, integration between crypto platforms and traditional payment systems such as Paypal shows a growing trend in digital currency adoption by large financial institutions in recent years.
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