Payment provider company PayPal now allows U.S.-based users to purchase up to $100,000 in crypto weekly. In a Thursday announcement, PayPal said it had increased the crypto purchase limit for certain customers based in the United States from $20,000 to $100,000 per week. The company said the move was aimed at giving users “more choice and flexibility in purchasing cryptocurrency.” PayPal announced it would be moving into the crypto space in October 2020, later allowing eligible customers based in the United States to use cryptocurrencies for trading and payments. Though the company initially announced users would be limited to purchasing …

PayPal and Visa are among several major investors to have participated in a $300 million funding for Blockchain Capital. In a release issued on Tuesday, Blockchain Capital announced that the close of its Blockchain Capital V LP. According to the release, Fund V, capped at $300 million was oversubscribed with numerous investors including college endowments, family offices, and pension funds participating in the capital raise. As part of the announcement, Blockchain Capital stated that PayPal, Visa, and some other Fund V investors will take part in the firm’s strategic partnership program. Blockchain Capital is one of the oldest blockchain-focused funds …

An app says it offers crypto rewards for shoppers who make purchases at some of the world’s best-known e-commerce platforms — including eBay, Amazon, Lazada, Best Buy and Nike. Inevitably, one of the downsides of indulging in a little bit of retail therapy every now and again means that you’re left with less cash after splashing out on a brand-new pair of jeans or some headphones. Social Good Foundation Inc., the operating company behind SocialGood, says that it aims to change the status quo — and end a vicious cycle that means many everyday consumers struggle to amass savings, irrespective …

Blockchain intelligence platform TRM Labs has secured $14 million in Series A funding from venture funds across the crypto and technology sectors, sending a strong signal that major investors are backing digital-asset projects with ever-growing conviction. The venture capital arms of PayPal and Salesforce contributed to the raise, which was led by Bessemer Venture Partners, a VC with 130 IPOs under its belt. The full list of investors includes Initialized Capital, Jump Capital, Operator Partners, Blockchain Capital and executives from Google-parent Alphabet Inc. Ethan Kuzweil, a partner at Bessemer and new TRM board member, explained his firm’s rationale for leading …

Two former PayPal workers in business and technology have launched a cross-border payment system aimed at “faster, cheaper, and more transparent payments.” In an announcement on Tuesday, fintech infrastructure firm Six Clovers said it launched its Rapid network, which connects banks, merchants and payment providers, allowing clients to transact in digital currencies and fiat. Founded by former PayPal employees Jim Nguyen and Nas Kavian and backed by venture capital firm Borderless Capital, the network is built on the Algorand blockchain and employs the technology behind stablecoins to represent fiat. “Six Clovers is creating a bridge between traditional and decentralized finance, …

PayPal’s embrace of cryptocurrencies appears to be growing after the payments provider revealed that it will allow users to withdraw their digital assets to third-party wallets. The news, which was reported by Reuters Wednesday afternoon, comes just seven months after PayPal first enabled crypto purchases on its platform. At the time, the decision was heralded as a major milestone in mainstream recognition of digital assets. The Wednesday announcement means PayPal users will be able to send their cryptocurrencies to other wallets instead of just holding it on PayPal or selling it into fiat currency for withdrawal. However, neither Reuters nor …

Palantir, a $30-billion Colorado-based data analytics company founded by billionaire Peter Thiel, now accepts Bitcoin from clients as a form of payment. According to a CNBC report on Tuesday, Palantir said during its earnings call for the first quarter of 2021 that it had begun accepting Bitcoin (BTC) payments. In addition, the firm is mulling following in Tesla’s and MicroStrategy’s footsteps by adding BTC to its balance sheet, saying the crypto asset was “definitely on the table.” Palantir likely has more than $2 billion in cash on hand for investments. MicroStrategy was one of the first major firms to adopt …

During PayPal’s Quarter 1 2021 investor update call, president and CEO Dan Schulman said digital assets had performed strongly for the company and that he believes crypto and central bank digital currencies will be a driving force in forging “a more equitable financial system.” Following the success of PayPal’s move to embrace crypto assets, much of the call centered around the firm’s recent and future plans for digital assets. “We believe the current technological underpinnings of our financial system will be substantially upgraded over the coming years,” Schulman said, adding this would help efforts to recover from the pandemic: “Both …

Coinbase users with PayPal accounts will now have another way to purchase crypto through the exchange. In an announcement from Coinbase today, the crypto exchange said it would be allowing its customers based in the U.S. to buy crypto using debit cards and bank accounts linked to their PayPal accounts. Coinbase said the move would let many users bypass automated clearing house and wire transfers — methods the exchange still offers — to fund crypto purchases. The integration will reportedly allow Coinbase users with PayPal accounts to “buy crypto instantly” without adding bank account information or credit card numbers directly …

Paxos, a major cryptocurrency company and PayPal’s crypto collaborator, has completed a massive fundraising round shortly after receiving preliminary approval to form a national trust bank. On Thursday, the firm announced a new $300-million Series D funding round bringing Paxos’ valuation to $2.4 billion. The new funding round included previous Paxos investors — PayPal Ventures, Declaration Partners, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap and others. The newly raised funds will help Paxos continue investing in the development of enterprise-grade infrastructure and further grow its commitment to regulation, security and compliance, as well as expand operations, the firm …

The demand for cryptocurrency exceeded PayPal’s initial expectations after the firm launched crypto trading in late 2020, according to the company’s CEO. “Demand on the crypto side has been multiple-fold to what we initially expected. There’s a lot of excitement,” PayPal president and CEO Dan Schulman said in a Sunday interview with Time magazine. Schulman said that existing financial infrastructure needs modernization because it’s “inefficient today” due to overly expensive, slow international transactions. The CEO predicted that the financial system is poised to see more changes in the next five to 10 years than it has experienced over the past …

Payments app Square made headlines — and dollars — when it integrated Bitcoin trading into its mobile platform back during the crypto bull market of winter 2017. Now, rival payments firm Venmo, owned by PayPal, is following suit by launching cryptocurrency trading for four major coins: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Beginning on Tuesday and set to be widely available within the new few weeks, Venmo’s 70 million+ customers will be able to buy, hold and sell crypto directly within the Venmo app. The launch is offering users access to in-app guides to help them …