PayPal has announced the launch of a new service that will allow users to pay for purchases using cryptocurrency. Starting today, US customers who store bitcoins, Ethereum, Bitcoin Cash and Litecoin on their wallets can convert their digital assets into dollars or another currency to pay for purchases. According to the source, in the coming months, this service will be available in 29 million retail outlets working with PayPal.

«This is the first time that you can seamlessly use cryptocurrency just like a credit or debit card in your PayPal wallet“, – commented on the launch of the new service CEO Dan Schulman (Dan Schulman).

Last fall, PayPal launched support for the service of buying, selling and storing cryptocurrency within the service. Now, the possibilities of interaction with cryptocurrency are expanding, and users will be able to pay for purchases using their digital assets.

The company considers the ability to automatically convert cryptocurrencies to be an attractive option for many sellers, since in this case they do not need to worry about the continued high volatility of digital assets. It is also known that the service will not charge a commission for transactions using cryptocurrencies, and only one type of virtual coins can be used for each individual purchase.

«We believe this is a transitional moment where cryptocurrencies are moving from an asset class used to buy, sell and hold to becoming a legal financial vehicle for transactions with millions of sellers in the real world.“, – said Shulman.