Payments giant PayPal has updated its Seller Protection program to exclude some NFTs.
PayPal, in a February 11 policy update, updated the terms of the Seller Protection program to exclude NFTs greater than $10,000. The payments giant’s Seller Protection Program is one that provides dispute protection to stores. The program will come into effect as of March 21. In a separate document shared, it states:
“The following items or transactions are not eligible for PayPal’s Seller Protection program:
“…US$10,000 in local currency calculated at the time of transaction Art, media, antiques or collectibles, in physical or digital form, represented by NFT, valued at more than or equivalent to more than a dollar…”
As we have previously quoted, PayPal has become the main partner after the Paxos partnership in October 2020. started to offer crypto asset services with its platform Venmo. The company is now working on a possible stablecoin launch.
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