US corporate clients will be able to make external transfers of digital assets within the blockchain to third-party wallets, PayPal announced.
“Since we launched the ability to buy and store cryptocurrency for retail PayPal and Venmo users, we’ve learned a lot about customer needs. Business owners are increasingly asking for access to the same service. We’re excited to meet that demand so that businesses can interact with digital assets,” — PayPal stated.
The company emphasized that for now, the cryptocurrency transaction service will not be available to corporate clients in New York State. The company needs to obtain an additional license for commercial activity with virtual currencies, in addition to the previously issued license from the New York State Department of Financial Services.
In 2023 PayPal introduced its US dollar-denominated stablecoin PayPal USD (PYUSD), which reached a market cap of $1 billion a few months ago.
Earlier, the international company Visa announced the creation of the Visa Tokenized Asset Platform crypto sandbox. The platform will offer banks assistance in testing solutions related to tokenized assets and smart contracts.
Source: Bits
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