According to information disclosed in the media, the payment giant PayPal is expanding its services related to cryptocurrencies as the company’s digital asset portfolios show immense growth potential.
Specifically, after launching the “on-ramp” service that allows customers to purchase cryptocurrencies, PayPal is planning to roll out an “off-ramp” service, facilitating the seamless conversion of digital assets into USD.
“By adding Off Ramps, US Crypto Wallet users can convert their cryptocurrencies into USD directly from their wallet to their PayPal balance, where they can shop, send, hold, or transfer to a personal bank or debit card.”
Notably, this service will also be available for wallet markets, dApps, NFTs, and even on MetaMask.
According to PayPal, Web3 sellers can use the integrated feature to connect with “robust security control tools and measures to manage fraud, refunds, and disputes.”
It’s worth mentioning that this announcement from PayPal comes after the company unveiled two other cryptocurrency-related initiatives in August 2023.
While the most notable news from the company is the launch of a stablecoin with Paxos, Ledger also announced the integration of a new wallet that allows U.S. customers to buy cryptocurrencies like Bitcoin, Ethereum, and Litecoin with their PayPal accounts.