On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Payments giant Paypal has increased its weekly purchase limit for cryptocurrencies and has removed the annual limit altogether. The company said, “These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.”
Paypal Increases Buy Limit for Cryptocurrencies
Paypal Inc. announced Thursday that it has increased purchase limits for cryptocurrencies. The company explained that since the U.S. launch of Paypal Crypto in October 2020, it has been actively engaging with customers “to better understand their needs,” with the aim to provide “a trusted and secure platform to buy, hold, sell and checkout with cryptocurrency.”
The payments giant detailed:
As part of our efforts to meet the ever-changing needs of our customers, we are pleased to announce that we have recently raised the purchase limits of cryptocurrency for eligible Paypal customers in the U.S. to $100,000 per week with no annual purchase limit.
This is a five-fold increase from the previous weekly limit of $20,000 and a substantial increase from the annual purchase limit of $50,000. The minimum crypto purchase is still $1 and the platform currently supports bitcoin, ethereum, litecoin, and bitcoin cash.
“These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform,” Paypal noted.
The company said in the first quarter that its crypto service showed “really great results.” In April, CEO Dan Schulman said the demand for cryptocurrencies on the Paypal platform was “multiple-fold” initial expectations.
Following the launch of Paypal Crypto, the company rolled out a similar crypto service on Venmo for 70 million users to trade cryptocurrencies. In March, Paypal launched “Checkout with Crypto” to allow cryptocurrency payments at millions of stores. Paypal automatically converts cryptocurrency into the U.S. dollar or other currency at the time of purchase. In May, Paypal announced that it will allow withdrawals to third-party wallets.
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