{"id":83003,"date":"2023-08-14T12:46:34","date_gmt":"2023-08-14T09:46:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83003"},"modified":"2025-09-12T08:25:52","modified_gmt":"2025-09-12T05:25:52","slug":"paypal-to-launch-cryptocurrency-hub-for-select-users","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paypal-to-launch-cryptocurrency-hub-for-select-users\/","title":{"rendered":"PayPal to launch cryptocurrency hub for select users"},"content":{"rendered":"

PayPal \u0437\u0430\u043f\u0443\u0441\u0442\u0438\u0442<\/a> cryptocurrency hub for select users \u2014 a service for storing and interacting with digital assets on the platform’s account.<\/p>\n

The plans are reflected in an updated user agreement.<\/p>\n

Timelines for a full rollout across all user segments have not been disclosed.<\/p>\n

The Cryptocurrencies Hub will enable purchases by converting digital assets into fiat, send\/receive cryptocurrencies, and access market information and educational materials.<\/p>\n

A number of features will not be available in certain U.S. states.<\/p>\n

The service will be instrumental for converting between the stablecoin PYUSD<\/a> and other digital assets.<\/p>\n

\n

\u201cAny balance in your Cryptocurrencies Hub reflects your ownership of the amount of each cryptocurrency. You will not hold the digital assets themselves on your balance of digital assets,\u201d<\/em> the document explains.<\/p>\n<\/blockquote>\n

To access the service, a PayPal user must have a ‘personal account and a balance account with a good reputation’.<\/p>\n

The company will also verify required personal information: name, physical address, date of birth, and tax identification number.<\/p>\n

The Cryptocurrencies Hub will be directly linked to the PayPal account. Access to the service will be available with existing credentials.<\/p>\n

The weekly limit for cryptocurrency purchases is set at $100,000, for transfers at $10,000.<\/p>\n

Fees for buying\/selling digital assets range from $0.49 to 1.5% of amounts $1,000 and above. In the case of conversions to\/from PYUSD this figure may reach 1.75%. When transferring cryptocurrencies, users will pay network fees; the company will not charge a fee.<\/p>\n

The company\u2019s \u201cstablecoin\u201d has drawn mixed reactions from community members. Some said PYUSD would foster broad adoption of digital assets, others pointed to centralization risks.<\/p>\n

Earlier JPMorgan analysts stated that PayPal\u2019s stablecoin launch could benefit Ethereum by increasing the total value of assets locked in the network.<\/p>\n

Bank of America analysts noted that PYUSD would improve payment efficiency and customer service, but the rollout of the asset is unlikely to be on a large scale.<\/p>\n

As reported, U.S. Representative Maxine Waters \u0432\u044b\u0440\u0430\u0437\u0438\u043b\u0430<\/a> \u201cdeep concern\u201d about PayPal’s stablecoin launch. She pointed to the lack of a regulatory framework for such assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

PayPal will launch a cryptocurrency hub for select users \u2014 a service for storing and interacting with digital assets on the platform.<\/p>\n","protected":false},"author":1,"featured_media":83004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1269,182,1481],"class_list":["post-83003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-cryptocurrencies","tag-paypal","tag-pyusd"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83003"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83003\/revisions"}],"predecessor-version":[{"id":83005,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83003\/revisions\/83005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83004"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}