The makers of hardware wallets Ledger and PayPal have teamed together to enable customers to purchase cryptocurrency in Ledger Live using their PayPal accounts, the firms announced on Wednesday.Users of Ledger Live can deposit tokens straight into the hardware wallet and purchase cryptocurrency using fiat money.Users will be able to link their PayPal accounts without undergoing any further verification thanks to the integration of PayPal.
“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 CEO Pascal Gaithier said in a statement. “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.”
The four crypto currencies that Ledger Live presently offers in the US are bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and litecoin (LTC).The announcement represents another effort by PayPal to enter the cryptocurrency market.In an effort to support the expansion of digital payments, the payments industry behemoth announced earlier this month that PayPal USD (PYUSD), its own stablecoin, would be released.