Confirming the integration of PayPal into its network, blockchain security firm Ledger on Wednesday said its US customers can now buy cryptocurrencies like bitcoin, ether, bitcoin cash, and litecoin through their PayPal account, subject to local laws.
Ledger customers who have already purchased digital assets using their PayPal accounts can buy them through the Ledger Live app, without any verification process, media reports said.
“We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions,” Ledger CEO Pascal Gaithier said in a statement.
Founded in 2014 and famous for its hardware wallets, Paris-based Ledger is among Europe’s biggest crypto businesses.
This partnership marks another push from PayPal, which is one of the biggest digital payment platforms, into the crypto ecosystem. Early this month, PayPal announced the launch of its stablecoin PayPal USD (PYUSD), which is currently available only in the US customers.
The entry of PayPal in the $125 billion stablecoin market is believed to be the most significant boost for the cryptocurrency sector. Right now, Tether’s USDT is leading the market, closely followed by Circle’s USDC. Binance’s BUSD, which was on the No. 3 position, was recently forced to shut down by the US regulators for allegedly being unregistered securities.
