PYPL PayPal Holdings Inc

By Will Feuer

PayPal Holdings Inc. said it is rolling out a feature that will allow users in the U.S. to transfer, send and receive Bitcoin, Ethereum, Bitcoin Cash and Litecoin in and out of the PayPal ecosystem.

The new feature will also let users send applicable coins to other PayPal users with no fees or network charges, PayPal Senior Vice President of blockchain, crypto and digital currencies Jose Fernandez da Ponte said.

"This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform," he noted.

The company has also been granted a full Bitlicense by the New York Department of Financial Services, he said, adding that PayPal is the first company to convert a conditional Bitlicense into a full Bitlicense.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

June 07, 2022 12:19 ET (16:19 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.