PayPal Users Bought More Than $600 Million in Cryptocurrencies in 2022
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Feb. 13, 2023

According to the annual report filed by payments company PayPal with the SEC, the value of digital assets purchased by the company's customers at the end of 2022 was $604 million.

Of this amount, $291 million came from Bitcoin, $250 million from Ethereum and the remaining $63 million from Bitcoin Cash and Litecoin.

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The total volume of cryptocurrency positions at the end of September amounted to $690 million.

It should be noted that companies are obliged to disclose this information since March 2022.

PayPal opened access to cryptocurrencies directly through accounts to US users in November 2020. The company added support for Bitcoin, Ethereum, Litecoin and Bitcoin Cash to its mobile payment service Venmo in April 2021.

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