The payment services giant will allow users to turn crypto into fiat for use at any one of 35 million merchant accounts.
Users will be able to turn their crypto into cash that can be used at any of 35 million merchant accounts Image Source AUSTIN, Tex. CEO Dan Schulman says that PayPal's (PYPL) move this week to let customers move crypto out of PayPal's cryptocurrency "walled garden" and into external wallets is the first step toward a digital currency-based world. Schulman was on stage at Consensus 2022 in Austin, Texas, with PayPal's crypto lead, Jose Fernandez da Ponte. Schulman said that his company is in crypto for the long haul. "We will instantly turn your crypto into fiat currency, which you can use in any of our 35 million merchant accounts," Schulman said. "We are trying to add functionality." "But what we just did with transfers is kind of like the first step as we move from a fiat-based world to a digital currency-based one," he said. At first glance, PayPal's long-awaited move seems to be just another step in the same direction as Robi...