Blockchain hardware provider Ledger has announced an integration of its Ledger Live software with payment processing company PayPal. This integration will allow US users with verified PayPal accounts to buy cryptocurrencies such as BTC, ETH, LTC, and BCH via their Ledger Live app.
Although the integration only allows users to purchase cryptocurrencies supported by PayPal, Ledger said it plans to work with the payment company “on new features,” adding that “should they decide to make more assets available, they’ll be automatically supported”
Ledger previously enabled its users to buy crypto via its partnership with Loopipay, Transak, Mercuryo, Ramp, and Simplex. However, PayPal will simplify the process even more. Ledger explained that when a user buys crypto through PayPal via Ledger Live, the purchased token is instantly transferred to the user’s wallet. In addition, the user is not required to initiate any withdrawal process.
Our mission has always been to build ease-of-use and security for critical digital assets.
That’s why we’re integrating @PayPal into Ledger Live.
You can now buy crypto with PayPal and get it into your custody.
Learn more here: pic.twitter.com/MAPhD1f3tT
— Ledger (@Ledger) August 16, 2023
A Ledger spokesperson further explained that “rather than using non-secure browser wallets or holding their funds on exchanges, users can combine the ease of use they want with the security they need.”
The Ledger spokesperson noted that the new feature will be a great fit for both users who are “new to crypto and want a trusted provider to enter the space” and those who are “already in the space and want an easy way to buy crypto and immediately secure it in your Ledger.”
In addition, Ledger chairman and CEO Pascal Gauthier believes the integration with PayPal is a win for crypto transactions. Gauthier claimed that the integration will simplify crypto payments and also emphasize security
He said:
We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions. Ledger is committed to simplifying the world of crypto, and PayPal is committed to making the movement of money as simple, reliable, and affordable as possible.
Gauthier added that “PayPal’s expertise complements our mission in this new era of asset advancement through our integration.” Ledger also hinted that more features resulting from its partnership with PayPal could be announced in the coming months.
PayPal looks to be accelerating its expansion in the cryptocurrency space in response to competition from up-and-coming big players like Block, founded by former Twitter CEO Jack Dorsey, as well as new business ventures by Apple and Google.
Today, we’re unveiling a new stablecoin, PayPal USD (PYUSD). It’s designed for payments and is backed by highly liquid and secure assets. Starting today and rolling out in the next few weeks, you’ll be able to buy, sell, hold and transfer PYUSD. Learn more pic.twitter.com/53ur2KmjU7
— PayPal (@PayPal) August 7, 2023
As part of its expansion plans, PayPal recently launched its own stablecoin, PYUSD. The payment service provider said the new stablecoin would advance the growth of digital payments.
