PayPal will allow US business accounts to buy, sell, hold and transfer cryptocurrencies except in New York State

Odaily Odaily News PayPal announced a plan to enable US business customers to buy, sell, hold and transfer cryptocurrencies, only expanding its influence in the digital asset field. "PayPal's latest move to increase the utility of cryptocurrencies by providing more features to millions of merchants in the United States," the company said, adding that business accounts in New York State will not be able to use the service. "Since we launched the ability to buy, sell and hold cryptocurrencies in wallets for consumers of PayPal and Venmo, we have learned a lot about how they want to use cryptocurrencies," said Jose Fernandez da Ponte, senior vice president of PayPal, in a statement. Business owners have increasingly expressed their desire for the same cryptocurrency features available to consumers. We are pleased to be able to meet this demand by providing this new product, allowing them to use digital currencies effortlessly." PayPal also said it will allow US merchants to transfer cryptocurrencies to "qualified third-party wallets" and receive "supported" tokens from external addresses. (The Block)