PayPal Inc. said that it will allow customers to buy goods and services with cryptocurrencies at more than 29 million merchants globally.
The payment service company will enable users with a digital wallet to convert their cryptocurrencies into fiat currency at the point of purchase.
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet," said CEO Dan Schulman. "Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies."