BTC/USD $ 26712.9
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|BTT/USD $ 0.00000060
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|WBTC/USD $ 26739.6
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|BAL/USD $ 5.42
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|UNI/USD $ 5.15
|ATOM/USD $ 10.78
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|EOS/USD $ 0.8928
|OMG/USD $ 0.8033
|RLC/USD $ 1.56
|MIR/USD $ 0.05600
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|XTZ/USD $ 0.8899
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|ENJ/USD $ 0.3523
|MATIC/USD $ 0.8601
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|LOOM/USD $ 0.05156
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|DEFT/USD $ 0.00002080
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|SPORE/USD $ 0.9137
|DEFLCT/USD $ 0.7343
|HVE/USD $ 0.0004395
|JCB/USD $ 0.00004900
|FWC/USD $ 0.00000000008000
|FDC/USD $ 0.00000021
|YETI/USD $ 0.003856
|SMR/USD $ 0.06492
|BTC/USD $ 26712.9
ETH/USD $ 1796.60
LTC/USD $ 92.39
DASH/USD $ 44.41
DOGE/USD $ 0.07324
FIL/USD $ 4.45
ADA/USD $ 0.3676
USDT/USD $ 1.00
SHIB/USD $ 0.00000866
HOLO/USD $ 0.003566
BTT/USD $ 0.00000060
WINK/USD $ 0.0001995
YFI/USD $ 6739.04
PAXG/USD $ 1995.93
MKR/USD $ 630.44
BCH/USD $ 117.30
WBTC/USD $ 26739.6
COMP/USD $ 35.00
AAVE/USD $ 62.48
ZEC/USD $ 33.10
ICP/USD $ 5.19
TRB/USD $ 11.87
ETC/USD $ 18.36
NMR/USD $ 13.50
BAL/USD $ 5.42
LINK/USD $ 6.62
REP/USD $ 6.88
UNI/USD $ 5.15
ATOM/USD $ 10.78
UMA/USD $ 2.12
SNX/USD $ 2.18
SUSHI/USD $ 0.8944
BAND/USD $ 1.47
EOS/USD $ 0.8928
OMG/USD $ 0.8033
RLC/USD $ 1.56
MIR/USD $ 0.05600
BNT/USD $ 0.4149
XTZ/USD $ 0.8899
CGLD/USD $ 1.74
1INCH/USD $ 0.4109
CRV/USD $ 0.8177
KNC/USD $ 0.6039
ENJ/USD $ 0.3523
MATIC/USD $ 0.8601
STORJ/USD $ 0.3080
ZRX/USD $ 0.2240
ALGO/USD $ 0.1679
GRT/USD $ 0.1221
OGN/USD $ 0.09479
CTSI/USD $ 0.1985
MANA/USD $ 0.5062
BAT/USD $ 0.2212
DAI/USD $ 1.00
USDC/USD $ 0.9998
REN/USD $ 0.07770
XLM/USD $ 0.08778
NKN/USD $ 0.09859
OXT/USD $ 0.06790
LRC/USD $ 0.2967
SKL/USD $ 0.03220
CVC/USD $ 0.08861
SAND/USD $ 0.5290
NU/USD $ 0.1500
GNT/USD $ 0.00000001
DNT/USD $ 0.02720
ANKR/USD $ 0.02588
LOOM/USD $ 0.05156
AMP/USD $ 0.002960
MANY/USD $ 0.3509
WTK/USD $ 0.02170
POSI/USD $ 0.02355
WINR/USD $ 0.00003100
DEFT/USD $ 0.00002080
ISA/USD $ 0.0001070
RULER/USD $ 0.006669
SPORE/USD $ 0.9137
DEFLCT/USD $ 0.7343
HVE/USD $ 0.0004395
JCB/USD $ 0.00004900
FWC/USD $ 0.00000000008000
FDC/USD $ 0.00000021
YETI/USD $ 0.003856
SMR/USD $ 0.06492
Anna Irrera, Tom Wilson 21 Oct, 2020 https://www.reuters.com/article/paypal-cryptocurrency-idUSKBN2761MI Views: 276
LONDON (Reuters) - PayPal Holdings Inc PYPL.O said on Wednesday it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.
The new service makes PayPal one of the largest U.S. companies to provide consumers access to cryptocurrencies, which could help bitcoin and rival cryptocurrencies gain wider adoption as viable payment methods.
The San Jose, California-based company hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that central banks and companies may develop, President and Chief Executive Dan Schulman said in an interview.
“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said.
U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. PayPal plans to expand the service to its peer-to-peer payment app Venmo and some other countries in the first half of 2021.
The ability to make payments with cryptocurrencies will be available from early next year, the company said.
Other mainstream fintech companies, such as mobile payments provider Square Inc SQ.N and stock trading app firm Robinhood Markets Inc, allow users to buy and sell cryptocurrencies, but PayPal's launch is noteworthy given its size.
The company has 346 million active accounts around the world and processed $222 billion in payments in the second quarter.
PayPal’s shares were up 4% at 1418 GMT, set for their best day in a month.
Bitcoin BTC=BTSP hit its highest since July 2019 on the news. It was last up 4.8% at $12,494, taking gains for the original and biggest cryptocurrency above 75% for the year. Cryptocurrency market players said the size of PayPal meant the move would be a plus for bitcoin prices. "The price impact will be positive overall," Joseph Edwards of Enigma Securities, a cryptocurrency brokerage in London, said. "There's no comparison with regards to the potential exposure between the upside of PayPal offering this, and the upside of any similar previous offering."
Bitcoin and other virtual coins have struggled to become established as widely used forms of payment despite being around for more than a decade. Cryptocurrencies’ volatility is attractive for speculators, but poses risks for merchants and shoppers. Transactions are also slower and more costly than other mainstream payment systems.
PayPal believes its new system will address these issues as payments will be settled using traditional currencies, such as the U.S. dollar. This means PayPal will be managing the risk of price fluctuations and merchants will receive payments in virtual coins.
“We are going about it in a fundamentally different way to make sure we provide the maximum amount of safety to our merchants,” Schulman said.
PayPal's service comes as some central banks have announced plans to develop digital versions of their currencies, following a Facebook-led FB.O cryptocurrency project Libra in 2019, which was met by strong regulatory pushback..
PayPal was among the founding members of this project but dropped out after a few months.
PayPal has secured the first conditional cryptocurrency licence from the New York State Department of Financial Services. The company will initially allow purchases of bitcoin and other cryptocurrencies called ethereum ETH=BTSP, bitcoin cash BCH=BTSP and litecoin LTC=BTSP, it said.
PayPal is teaming up with cryptocurrency firm Paxos Trust Company to offer the service.
Reporting by Anna Irrera and Tom Wilson in London. Editing by Richard Chang and Jane Merriman
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