PayPal Users Will be Able to Withdraw Their Cryptocurrencies to Third-party Wallets

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US payments giant PayPal has just announced it is adding a new functionality to its service that will allow its users to withdraw their assets to third-party wallets, CoinDesk has reported.

While the fintech company already allowed its users to buy, store and sell cryptocurrencies, they could not transfer them to other wallets not belonging to PayPal. However, the option will soon be added to the platform.

As said by the company VP Jose Fernandez da Ponte at CoinDesk’s Consensus 2021:

“We want them to be able to take the crypto they acquired with us and take it to the destination of their choice.”

He added:

“We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay. They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice.”

While the company usually unveils new developments every 2 months, the launch date of this new functionality has not been disclosed yet.