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PayPal’s custodian of crypto funds, itBit, traded over $2.1 billion worth of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and PAX in May, according to data provided by analytics tool Nomics.

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Owned by Paxos, itBit is a crypto exchange that provides liquidity for PayPal, a US company operating an online payments system that entered into the crypto market in October 2020.
Daily trading volumes getting five times higher

Paxos’ easy-to-integrate APIs and regulatory framework enabled PayPal, which currently supports four cryptocurrencies, namely Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), to enter the crypto market at a massive scale that only a mainstream financial platform can reach.

The itBit exchange has seen significant growth in trading volume recently, …
Read the full article at CryptoSlate: https://cryptoslate.com/paypal-processe ... es-in-may/