Payment system PayPal has filed a patent application for NFT trading, which will allow its users to buy and sell non-fungible tokens using fiat money or cryptocurrencies directly on the platform.
The approval will also allow PayPal users to view available NFTs on the market, compare their prices and features, and transfer between their PayPal accounts and other compatible wallets.
This move by PayPal is due to the growing popularity of NFTs, and the entry of non-fungible tokens into the market will significantly expand the payment system's capabilities in the cryptocurrency sector.
The patent application, filed in March but still pending, describes a system in which users can buy and sell NFTs through a third-party service provider. That provider is not specified, although Ethereum is mentioned in the text.
It's worth noting that PayPal added support for cryptocurrencies back in 2020 and has continued to expand its presence in the digital asset space since then. In August, the company launched its own stablecoin, PYUSD.
Read more: Unknown whale transferred 22,343 ETH to Coinbase.
