PayPal inches up on enabling crypto payments for shopping

Digital payments co PayPal up 0.5% at $201.55 in early U.S. premarket trading after it enables bitcoin payments to shop at the millions of merchants on its network. Co launched "Checkout with Crypto" service in March, which allows U.S. users to use their cryptocurrency holdings to pay online merchants globally

PYPL launched cryptocurrencies buying and selling in the U.S. and UK this year. With over 400 mln active accounts globally, California-based PayPal is one of the largest mainstream financial companies to offer consumers access to cryptocurrencies

News comes as bitcoin trades near one-month low, on course for its worst week in six months on concerns that creditors of collapsed crypto exchange Mt Gox might liquidate their payments


Bitcoin was flat at $56,903 as of 1109 GMT

PYPL down about 14% YTD, trading at lowest level since Nov 2020 after downbeat FY guidance, Pinterest buyout chatter.