Ledger teams up with PayPal

PayPal joins Ledger Live’s ‘Buy’ section as a new payment method and ‘Buy’ provider. Currently, the PayPal integration is only available to users in the US.

With this collaboration, PayPal and Ledger Live are aiming to provide a secure and user-friendly platform for buying crypto. When using PayPal through Ledger Live, users in the US will be able to directly buy BTC, ETH, BCH, and LTC using their linked PayPal account.

Users who have purchased crypto with a PayPal account can buy crypto in Ledger Live without the need for any extra verification. Moreover, purchases through PayPal will be automatically sent to users’ Ledger hardware wallet, similar to other Ledger Live options.

For users in the US who have already purchased crypto with PayPal, these are the following steps to make a purchase using Ledger Live: 

1. Open Ledger Live and navigate to the ‘Buy’ section; 

2. Select the currency and enter the amount wished to purchase; 

3. Specify the country (currently limited to the US, and also subject to applicable state law); 

4. Choose PayPal as the preferred payment method; 

5. Redirected to the PayPal interface, where users can log in and confirm the transaction; 

6. Once the transaction is confirmed, users’ digital assets will be automatically sent to the secure environment of the Ledger device. 

Users who do not have a PayPal account or ones who have never purchased crypto with PayPal before will be required to create a PayPal account or undergo a KYC verification. 

Ledger company works in developing a variety of products and services to enable individuals as well as companies to securely buy, store, swap and manage their digital assets. The company’s mission is aimed at securing crypto assets with the use of its Ledger devices and managed through the Ledger Live app. Ledger company offers customisable infrastructure solutions safeguarding crypto assets for Banks, Hedge Funds, as well as HNW individuals. Headquartered in France and with offices in the US, the company also works together with players in various industries on blockchain use cases.  

 

PayPal has recently been making moves in the digital payment landscape. In August 2023, it introduced its own fully regulated stablecoin, PayPal USD (PYUSD). The stablecoin is denominated in USD and was designed to tap into the potential of stablecoins for payments in web3 and digitally native environments. This stablecoin can be redeemed at a 1:1 ratio for USD and is issued by Paxos Trust Company. Eligible US PayPal customers can purchase PYUSD and can make use of various benefits, including transferring the stablecoin between PayPal and compatible external wallets, making person-to-person payments, and facilitating purchases at checkouts. Additionally, PayPal customers would be able to convert a number of supported cryptocurrencies to and from PYUSD.

Also in August 2023, PayPal rolled out the Cryptocurrencies Hub as a platform that allows the sale and purchase of cryptocurrencies, among other features. The company updated its terms and conditions to introduce Cryptocurrencies Hub, allowing users to hold and interact with cryptocurrencies via their PayPal account. The Cryptocurrencies Hub was key for PayPal’s mission of reinventing itself as a crypto-inclusive platform. 

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