PayPal to allow cryptocurrency transactions beginning next year

PayPal Holdings Inc. on Wednesday said customers will be able to buy cryptocurrency through their accounts beginning next year and use it for payments. CEO Dan Schulman told Reuters that he hopes the new service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations. “We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said. The San…