Ledger integrates PayPal on its Ledger Live app
Ledger users will be able to purchase ETH, BTC, BCH and LTC with their PayPal accounts.
Ink Drop/Shutterstock modified by Blockworks
PayPal continues to expand its crypto footprint.
Ledger announced an on-ramp integration with PayPal on Wednesday, allowing users to use their Ledger Live app to buy certain cryptos.
Specifically, Ledger users will be able to buy ether (ETH), bitcoin (BTC), bitcoin cash (BCH) and litecoin (LTC) through their PayPal accounts if they’re linked.
While users will only be able to buy tokens supported by PayPal currently, Ledger plans to “work with PayPal on new features and should they decide to make more assets available, they’ll be automatically supported” so long as they’re supported by Ledger, a spokesperson confirmed to Blockworks.
Purchases made on the app will be sent to a Ledger hardware wallet, which follows other Ledger Live options.
For users who have previously bought crypto on PayPal and have it secured in another wallet, they can move the funds to their Ledger wallet address as normal by transferring them.
“Both PayPal and Ledger are focused on creating secure, seamless and fast transactions no matter where you are in the world. PayPal has remained at the forefront of the digital payment revolution for more than 20 years, and we are thrilled to come together in this next period of asset innovation with our integration,” said Pascal Gauthier, CEO of Ledger.
Last week, PayPal announced a dollar-backed stablecoin issued by Paxos Trust Co. The stablecoin marked the first time that any large American payments company made a move into issuing stablecoins.
Read more: PayPal has a stablecoin. Will they take on Coinbase next?
At the time, outgoing CEO Dan Schulman said that the company is committed to “responsible innovation and compliance” with the release of the stablecoin.
Earlier this summer, PayPal also enabled crypto purchases for Venmo users, and allowed users to move digital holdings to external wallets and exchanges.
“Consumers and merchants need choice and there should be more options to get fiat into crypto and it should be us,” Jose Fernandez da Ponte, PayPal’s general manager for blockchain, crypto and digital currencies said at a conference in late April.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- The Drop: Apps, games, memes and more.
- Lightspeed: All things Solana.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
