New York (CNN Business)PayPalis launching its owncryptocurrencyservice, allowing people to buy, hold and sell digital currency on its site and applications.

Bitcoin Cash and Litecoin cryptocurrencies using the companys digital wallet,Schulman said in a statement.Fox News is mocking CDC guidance for Thanksgiving gatheringsSee how Fox News changed tune on accepting election resultsFox News hosts question election legitimacy without evidenceand the responsibility,said PayPal President and CEO Dan Schulman,asPaypal CEO Dan Schulman delivers his keynote conference during the Mobile World Congress at the Fira Gran Via complex in Barcelona,Ethereum,to help facilitate the understanding,but they wont be able to pay for products and services using cryptocurrency until early 2021. PayPals Venmo customers and select international consumers wont have crypto services until some time in the first half of 2021.Hear Rachel Maddows plea after her partners battle with Covid-19PayPal says its new service will give customers the ability to hold and exchange Bitcoin,speed and resilience of cryptocurrencies give people financial inclusion and access advantages,two-sided network,Obama: This is what 72 million votes for Trump says to meThe efficiency,and rigorous security and compliance controls provide us with the opportunity,Spain on February 22,which lets people shop online,2016.Keilar: Biden won the election and it wasnt even closeThe online payments company declared adding crypto was a significant milestone on the path to mainstream adoption of cryptocurrencies such asbitcoin. Bitcoin investors agreed: Prices rose 5% on the news Wednesday.Our global reach,redemption and interoperability of these new instruments of exchange,request and send money.Left me dumbfounded: CNN anchor on Fox News correspondents suggestionInvestors responded positively to the news Wednesday,who described the eventual shift from physical to digital currencies as inevitable.The companys US customers will receive crypto service access in the coming weeks,digital payments expertise,

PayPal isnt the only major company betting on cryptcurrencies. Square spent$50 millionto buy more than 4,700 bitcoins earlier this month. Square Chief Financial Officer Amrita Ahuja told reporters at the time that the company believes bitcoin could be more a more ubiquitous currency in the future.

Cryptocurrency isdigital moneyexchanged without fees between two parties online with no involvement from traditional banks and no regulatory oversight by national governments.

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and Venmo — which is owned by PayPal — because many coronavirus-wary consumers are avoiding the use of physical cash.

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stock price surged following opening bell before retreating close to where it opened for the day. The companys stock has more than doubled since the beginning of the Covid-19 pandemic in the United States in mid-March.

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The pandemic hasfueled a boomin the online payments industry and companies like PayPal,

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