Asia Tech Wire (Sep 26) -- PayPal announced on Wednesday that its U.S. merchants can buy, hold and sell cryptocurrencies directly through their PayPal business accounts.

At launch, this functionality for Business Accounts will not be available in New York State.

Additionally, PayPal is enabling U.S. merchants to externally transfer cryptocurrency on chain to third-party eligible wallets.

PayPal business account holders can now send and receive supported cryptocurrency tokens to and from external blockchain addresses.