Jeremy Allaire purchases $100 of Bitcoin via PayPal

Circle CEO Jeremy Allaire posted a screenshot of a $100 Bitcoin purchase using this new service prior to its official rollout date.

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Circle CEO Jeremy Allaire posted a screenshot of $100 Bitcoin purchase using this new service prior to its official rollout date.

Since Paypal’s announcement about stepping into the crypto market, the market has seen plenty of excitement. The official rollout DATE of PayPal’s new services -¬-crypto payments and direct, in-app purchases of crypto- is announced as the early 2021.

However, on 28 of October, Jeremy Allaire, the co-founder and CEO of Circle crypto payments claimed that he had used the PayPal app and had bought Bitcoin of $100 worth. He posted a screenshot of this transaction on his twitter to prove it. Here it is;

“Bought $100 in BTC on @PayPal ! Great milestone for the market! pic.twitter.com/jsxAxTpGgK

— Jeremy Allaire (@jerallaire) October 28, 2020”

Mr. CEO did explain how he had gained access to this service well ahead of its official rollout date.

A representative from PayPal told Coingraph: "At launch we said 'The service will be available to PayPal accountholders in the U.S. in the coming weeks,' meaning that users in the U.S. would have access over time, starting on Oct. 21."

The representative went on and said that the company had made a link available for the enthusiasts so they could get in a waitlist to be able to gain access.

The new feature on PayPal will support other coins like Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) besides the Bitcoin. It’s interesting to know that, although the transactions are triggered with the crypto, they are settled with the merchants affiliated with the website in a fiat currency that is their local currency.

The crypto payment are going to be backed by an approximate network of 26 million merchants around the world as of 2021.

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PayPal