Ledger inks partnership with PayPal

The hardware-wallet maker Ledger announced PayPal integration, which will allow U.S. users to buy cryptocurrency using their PayPal account.

Users of the Ledger Live app, in line with U.S. law, will be able to trade without undergoing identity verification if they have previously used PayPal.

For new users, a KYC check is required.

“Ledger aims to simplify the world of cryptocurrencies, and PayPal — to make moving money as simple, reliable and accessible as possible,” said Pascal Gauthier, the head of the wallet maker.

In the initial phase, the platform will offer Bitcoin, Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

On August 7, the company announced the launch of the USD-backed stablecoin PYUSD built on Ethereum. The issuer of the coin was the infrastructure blockchain company Paxos.

The asset drew a mixed reaction from members of the crypto community. Some believed that PYUSD would foster broad adoption of digital assets, while others pointed to centralisation risks.

Later, PayPal announced the launch of a crypto hub for select users. This will be a service for storing and interacting with digital assets on the platform’s account.

Earlier in June, Ledger announced the launch of a trading platform for institutional clients — Tradelink.