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Venmo and PayPal users can now send money directly to the US Government to help the country pay off its $36.6 trillion national debt. The digital payment platforms can be used after accessing the “Gifts to Reduce the Public Debt” page on Pay.gov. The website has existed for nearly three decades, allowing Americans to contribute directly to paying off the country’s debt. While a total of $67.3 million has been contributed, that remains negligible compared to the trillions in federal debt. Neither PayPal nor Venmo has issued a statement on this new way to help pay off the US national debt. To contribute, individuals can visit the Pay.gov portal and select their payment method. On Pay.gov, users can fill out the required forms and submit donations using Venmo, enabling real-time payments from their mobile devices. US Government adds PayPal to Help Lowering Surging National Debt: a Cry for Help? According to the US Treasury Department, the national debt has risen by over 87% in the la...

PayPal has officially enabled businesses in the United States to buy, sell, and hold cryptocurrency. Business merchants will now be able to execute various crypto transactions directly from their PayPal business accounts. The functionally is now available in 49 of the 50 states, only excluding New York. The move marks yet another step into the digital asset sector for the digital payment platform. Moreover, the development is a step towards increasing the potential adoption of the asset class within the United States. JUST IN: PayPal enables US businesses to buy, sell, and hold cryptocurrency. — Watcher.Guru (@WatcherGuru) September 25, 2024 Also Read: PayPal Announces New Partnership With Crypto Bank Anchorage PayPal Announces US Businesses Can Buy and Trade Crypto Few traditional finance entities have been as outspoken in their advocacy of crypto as PayPal. The platform launched its very own PYUSD stablecoin earlier this year. Now, they are taking a massive step forward for Uni...

Source: ENS Labs PayPal and Venmo have announced a significant enhancement to their platforms with the integration of Ethereum Name Service (ENS) names for cryptocurrency transfers. This development, disclosed by ENS Labs on September 10, is expected to simplify the process of sending digital assets and is aimed at over 270 million users in the United States. We’re thrilled to announce that @ensdomains is now supported on @PayPal & @Venmo! This new feature brings the power of ENS to millions, making crypto transfers easier and more secure than ever—starting in the USA. pic.twitter.com/9hsrhRqEAp — ens.eth (@ensdomains) September 10, 2024 Simplifying Crypto Transactions The new feature allows users to replace cumbersome wallet addresses with human-readable ENS names. Instead of dealing with long strings of alphanumeric characters, users can now use simpler names like “yourname.eth” for transactions. Khori Whittaker , Executive Director of ENS Labs ...

PayPal has announced that it will temporarily pause crypto buying services in the UK starting from Oct. 1, 2023, with a planned resumption in early 2024. The latest decision, outlined in an email to select users on Aug. 14, comes in response to new regulatory requirements by the UK Financial Conduct Authority (FCA). Calling up the Fed to get permission. https://t.co/fqaC1Dv4rE https://t.co/IiMNIeXxYv — Simon Dixon (@SimonDixonTwitt) August 15, 2023 While crypto buying will be unavailable during this period, users can continue to hold and sell their crypto currencies. However, PayPal did not clarify whether users can transfer crypto currencies to other wallets or exchanges, a feature that currently seems limited to US users. Compliance with new UK rules The decision to pause the buying services comes as PayPal aims to comply with new regulations introduced by the UK FCA. The company will be required to “implement additional steps before customers can purchase crypt...

The lion’s share of the fintech’s held cryptocurrency assets lie in BTC and ETH with $499 and $362 million respectively — up more than 56% since Q4 2022. Financial technology company PayPal recently disclosed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commision (SEC).  Claiming a combined total of $943 million in crypto currency assets as of March 31, 2023, the filing shows a 56% increase over the company’s previous quarter where PayPal disclosed $604 million. PayPal's reported total financial liabilities for this quarter were $1.2 billion, with crypto assets making up 77.9% — up more than 10% from 2022’s reported fourth quarter liabilities. Related: PayPal crypto partner Paxos raises $300M According to the report, PayPal considers its crypto assets a “safeguarding liability” due to the the “unique risks associated with crypto currencies.” The disclosure also indicates that the specific crypto currencies held by the company remain ...