PayPal has begun allowing U.S. consumers to use their cryptocurrency holdings at millions of online merchants globally.
This move could significantly boost use of digital assets in daily commerce. The service means PayPal users who hold Bitcoin (BTC), Ether (ETH), Bitcoin cash (BCH), and Litecoin (LTC) in digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, stated by Reuters.
PayPal President and CEO, Dan Schulman, told Reuters, “This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,”. Moreover, “We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants.”
To help shape a more inclusive future, Schulman revealed that PayPal is “significantly investing” in its crypto unit. Additionally, PayPal will charge no transaction fee to checkout with crypto and only one type of coin can be used for each purchase.
Michael Jordan Participates in $305 Million Investment in NBA Top Shot Maker
With collaboration from the NBA, highlight clips have converted to NFT Collectible Cards. Dapper Labs, the Canadian Technology Company behind NBA Top Shot, which first gained fame for the video game CryptoKitties, has decided to solidify its rise with an extra $305 Million investment.
The investment firm Coatue, Kevin Durant, and 30 more athletes plus the rapper 2 Chainz have assembled into the NFT firm, according to the startup. USA Today reported the funding round states Dapper’s current valuation at $2.6 Billion.
Dapper’s NBA TopShot platform continues to monetize fans’ thriving demand for digital collectibles. On top of Dapper’s Flow Blockchain, the crypto platform has gathered nearly $500 million in sales and witnessed its secondary trading market exceed $2 Million in volume almost daily.
While NFTs are the craze in the new world of digital assets, the hype remains around NBA Top Shot and Dapper Labs revealed in a press release it plans to bring yet more digital collectives to Flow through “experiences” by Warner Media Group and UFC, along with others.