American financial technology company PayPal has announced a new cryptocurrency feature that enables users to transfer tokens across wallets and exchanges.
The payment service provider has availed the service to some of its users in the US with plans to onboard more eligible customers in the coming weeks. The supported cryptocurrencies include Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
The new offering supports cryptocurrency deposits to PayPal and peer-to-peer transfers with no charges to send or receive funds. The service also allows transfers to external crypto addresses to exchanges and hardware wallets.
PayPal says that the customers’ assets on the platform can also spend the tokens using its checkout in various outlets. The firm has issued a guide on its website on how to navigate the service.
Paypal says that the move addresses the needs of its users, who have requested the service since the company started offering crypto purchase functionality on its platform.