PayPal has raised cryptocurrency limits for its U.S. customers to $100,000 per week without an annual purchase limit, the company said Thursday.
The San Jose, Calif.-based payment services company said on its website the change would “enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.”
The company also said it would continue to update its in-app guides and educational materials on digital currencies, including addressing commonly asked questions.
In May, during CoinDesk's Consensus 2021 program, PayPal's blockchain lead, Jose Fernandez da Ponte, said the company would allow users to withdraw cryptocurrency to third-party wallets.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.