Payment platform PayPal has announced the expansion of its crypto-related services. After introducing the On Ramps service, which allows clients to purchase cryptocurrencies, the company is launching the Off Ramps service, which gives users an easy way to convert their digital assets into US dollars.
"By adding Off Ramps, crypto wallet users in the U.S. can convert their crypto to USD directly from their wallets into their PayPal balance so they can shop, send, save, or transfer to their bank or debit card," PayPal said in a release note.
PayPal Off Ramps is available for NFT wallets, dApps, and marketplaces, as well as on MetaMask.
The previously launched On Ramps service allows users in the U.S. to buy cryptocurrency directly with PayPal through integration with MetaMask and Ledger.
PayPal's introduction of new cryptocurrency-related services demonstrates its commitment to expanding the availability of digital currencies through easy interactions and new business opportunities.
The integration of On Ramps and Off Ramps into the PayPal ecosystem will allow Web3 merchants to expand their user base and leverage the payment system's robust security controls, fraud prevention, chargeback, and dispute resolution tools.
As a reminder, PayPal and hardware wallet maker Ledger previously partnered to advance the digital currency landscape. Ledger's integration allowed U.S.-based users to purchase cryptocurrencies like Bitcoin, Ethereum, and Litecoin using their PayPal accounts.
See also: Brian Armstrong talks about the challenges facing the crypto industry.
