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5/26/2021, 8:24 PM (Source: TeleTrader)
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PayPal to allow Bitcoin, other crypto withdrawals

PayPal will allow its 361 million-strong customer base to withdraw cryptocurrencies like Bitcoin to third-party wallets, the company's Vice President of Global Business Development and head of Blockchain, Crypto and Digital Currencies Jose Fernandez da Ponte said on Wednesday.

"We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay. We want them to be able to take the crypto they acquired with us and take it to the destination of their choice," he stated at CoinDesk’s Consensus 2021 conference.

Bitcoin was up 1.07% to $38,809 at 2:30 pm ET following the news.

Baha Breaking News (BBN) / JC