PayPal Creates a Check out Service for Ethereum (ETH), Bitcoin, and LTC Holders in the U.S.
PayPal has activated a 'Checkout with Crypto'feature for ETH, BTC, and LTC holders in the U.S. As such, coin holders would use their holdings to pay for goods and services from the over 60 million merchants across the world directly from their accounts without additional fees. In response, supported cryptocurrencies, including ETH and BTC, rose.
PayPal, after announcing crypto support in late 2020, is following through, now enabling coin holders to pay for goods and services using their stash. It is a massive endorsement of Ethereum, a project that's building to address scaling concerns while rolling out suitable solutions for lower fees, subsequently enhancing user experience.
Impact on the ETH Price:
Bullish. PayPal announcement is a few hours afterVisa's move. Besides enterprise adoption, on-chain developments, including scaling efforts, build a case for ETH/USD bulls. Supporters say ETH prices can tear above recent resistances to all-time highs above $2.1k.
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