Payments giant PayPal has launched its new service Cryptocurrencies Hub for users to interact with Bitcoin (BTC).
The payments giant, which launched its stablecoin PayPal USD (PYUSD) a few days ago, has announced its new service, Cryptocurrencies Hub, for users to hold and interact with BTC. PayPal, which has made consecutive moves towards the crypto industry, made statements about the latest developments.
A statement came from PayPal about the recent developments.
The company stated that it aims to expand its crypto services with activities in Cryptocurrencies Hub. Stating that it can make payments via PayPal with the assets stored after crypto money trading, the payment giant has gained attention with new developments. Emphasizing the importance of the interaction between PYUSD and other assets, PayPal said;
“Any balance in your Cryptocurrency Hub represents your ownership of the amount of each Crypto Asset shown. You will not keep Digital Crypto Assets in your Crypto Asset balance. You can only use your Cryptocurrency Hub by accessing it through your personal PayPal account as part of your Balance Account. If you are a Hawaii resident, we will not allow you to set up a Cryptocurrency Hub at this time.”
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