PayPal will allow users to withdraw cryptocurrencies to third-party wallets Paypal has been doing a lot with respect to cryptocurrencies in recent months. Recent reports show that it will allow users to transfer digital assets to third-party wallets. This indicates that PayPal and Venmo users can not only send bitcoins to users on the platform, they can also withdraw them to platforms such as Coinbase and external cryptocurrency wallets. However, PayPal has not yet revealed when it will open the encrypted extraction function. PayPal’s embrace of encryption seems to have links to a future strategy. It believes that over time, digital asset use cases have grown rapidly. Jose Fernandez da Ponte, head of blockchain and encryption at PayPal, said… “We want to make it as open as possible, and we want to give our consumers the choice to pay in any way they want to pay”. There is a rumor that PayPal Plans to launch its own stablecoin, but Ponte stated that “it is still too early.”