PayPal is finally allowing cryptocurrency holders to transfer their digital assets off its platform to other wallets and exchanges, the feature most often requested since the fintech giant’s crypto buy, sell and hold service went live in October 2020.
The move away from regimented custodial platforms towards more open systems is a trend being followed by other large fintech players to enter crypto, such as popular trading app Robinhood, which is rolling out a new crypto wallet focused on decentralized finance (DeFi) and non-fungible tokens (NFTs).
It was back at CoinDesk’s virtual Consensus event in 2021 that Jose Fernandez da Ponte, senior vice president, blockchain, crypto and digital currencies at PayPal, said plans to let users move their coins to third-party wallets were in the works.
“We are definitely responding to demand from users, that is one aspect,” said da Ponte in an interview this week. “We’ve also been very vocal from the beginning that we’re in this because we are a...
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