In a bid to expand its crypto educational services and also to meet the ever-changing needs of customers, PayPal has raised its weekly limit on crypto purchases to $100K.
PayPal stated on July 15 that it was raising the weekly cap for crypto purchases by customers in the United States to $100,000, with no annual limits.
Jose Fernandez da Ponte, one of the firm’s crypto leaders, emphasized “the ever-changing needs of our consumers” in the announcement.
Da Ponte emphasized PayPal’s attempts to expand its crypto educational services alongside the hike in purchase restrictions.
In November, the online payments company made its crypto services available to the general public, with a weekly cap of $20,000.
PayPal’s cryptocurrency solutions, on the other hand, are totally custodial. Users are unable to withdraw their digital assets into third-party wallets.
Since the company’s introduction, there has been much discussion about whether it will allow withdrawals outside of its own platform, which management has indicated is a top goal.
