PayPal working on letting you withdraw crypto to third-party wallets

PayPal has plans to let users withdraw their cryptocurrency from their PayPal wallet, and send it to third-party wallets coming very soon.

The global payment giant announced the news of letting people move their crypto to another wallet from their PayPal account at CoinDesk's Consensus 2021 conference. PayPal's Vice President, General Manager Blockchain, Crypto and Digital Currencies, Joe Fernandez da Ponte said: "We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay. They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice".

There's not much else on this right now, with no ETA of when PayPal will make the move and let people move their crypto around. We should expect more on this as PayPal starts flipping those crypto switches, with rumors of their own "PayPalCoin" now circulating with the company saying "this is way too early"... yeah but you didn't say no, PayPal... so expect a PayPalCoin announcement sometime this year I'm sure.

• Read more: PayPal enables US customers to purchase goods with cryptocurrency
• Read more: PayPal will allow cryptocurrency for buying, selling, shopping in 2021