PayPal to allow customers to buy and sell bitcoin and other cryptocurrencies

You will soon be able to buy and sell bitcoin, ethereum and other cryptocurrencies on PayPal. Reuters reports that the company is far from alone in offering this service to normies, but its "vast reach' means it will be transformative.

PayPal customers will also be able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021, the company said in a statement.

PayPal hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations … U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. It plans to expand to Venmo and some countries in the first half of 2021.