PayPal launches cryptocurrency to USD exchange service

ChainCatcher news, PayPal has launched a Web3 payment entry and exit channel, enabling customers to buy and sell supported cryptocurrencies in the U.S. (subject to applicable state laws) through the integration of On and Off Ramps.

PayPal stated that it had previously integrated On Ramps, allowing U.S. consumers to purchase cryptocurrencies directly using PayPal through partnerships with Metamask and Ledger wallets. With the addition of Off Ramps, cryptocurrency wallet users can directly convert their cryptocurrencies into USD and transfer them to their PayPal balance, so they can shop, send, save, or transfer to a bank or debit card. The service supports use in wallets, DApps, NFT marketplaces, and MetaMask.