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PayPal’s involvement in the cryptocurrency industry dates back to October 2020. Back then, it announced that it would allow users to buy, hold and sell cryptocurrencies on its platform, pushing the bull market into a higher gear. The company initially supported four cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, and Litecoin).
Last June, PayPal announced that its users in the United States can now transfer cryptocurrencies, including Bitcoin, to external wallets. Prior to that, its American customers were not able to move their cryptocurrency holdings off its platform.
According to PayPal, the new feature was added after receiving a significant number of requests from its users since the company first permitted buying and selling crypto.
In December, the financial giant allowed eligible customers in Luxembourg to buy, sell, and hold Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in their PayPal accounts via the website or the mobile app.
As of now, it remains to be seen if PayPal will add SHIB to the list of cryptocurrencies that it supports. However, the exchange on Twitter will likely spark speculation among SHIB Army members about the possibility of using their favorite cryptocurrency on the payment platform.