PayPal gets Bitlicense and starts crypto service

NY DFS announced Paypal to be the first approved entity for BitLicense

This announcement is a big step for PayPal, cryptocurrencies, and the regulatory scene. The FinTech giant with its 346 million active accounts and 26 million merchants plans to offer its customers the possibility of receiving cryptocurrencies in their wallets and thus pay at merchants from the beginning of 2021. The new service will be provided on the regulatory basis of the NY Department of Financial Services (DFS) BitLicense.