Here are some exciting news to make your code journey even smoother: PayPal is currently a fundraising option for US Kraken clients This means you can deposit your USD and start trading in just a few taps.

If you are using PayPal, you are already in the middle

You may have used PayPal before. You could shop online, send cash to friends, or split dinners. You can now instantly fund your Kraken wallet using the same PayPal account. Whether you prefer to use your PayPal balance, your linked bank account, or your card, you can go to everything.

You will no longer enter it into your bank credentials. There are no third party login pop-ups. Fast, familiar funding from platforms you already trust.

Why PayPal?

Because that works.

Adding PayPal as a deposit method is part of our mission to make encryption easier for everyone, especially when new or encrypted. and Instant deposits are open 24 hours a day, 7 days a yearyou can jump into the market when the moment feels right, not being caught up in the bank’s delays.

It’s safe. It’s intuitive. If you already use PayPal every day, it’s kind of easy.

The US is participating in the EU, the UK, Australia…and we are not finished

This is not PayPal’s first Crypto Rodeo. Client of client EU, UK, Australia You’ve already enjoyed this feature, but now it’s your turn. We’ll come soon.

Fun fact: Client moved during soft launch $1 million Through PayPal deposits. And it didn’t have a single marketing push. Word of mouth and many happy users.

What happens after I deposit?

That’s when real fun begins. Once your USD has entered your Kraken account, you can:

• Trade Over 400 cryptocurrencies
  
• use Kraken Pro Advanced features or Crack app For crypto on the go
• Stakesget rewards or use them to send money Kraken Pay

There is no friction. There is no delay. Just a possibility.

Ready to get started?

Funds with PayPal only take a few minutes. Log in and select PayPal at checkout to go out and go to the race.

Top US-based crypto exchange by trading volume Coinbase has joined forces with digital financial services giant PayPal to advance crypto adoption and usability.

According to a new press release, the collaboration centers on PayPal’s stablecoin, PYUSD, and how Coinbase users will experience zero fees when purchasing or converting PYUSD on the platform.

By waiving fees, Coinbase seeks to boost accessibility to PayPal’s stablecoin, thereby streamlining its integration into the broader crypto ecosystem.

Says Alex Chriss, President and CEO of PayPal,

“For years, we’ve worked with Coinbase to enable a best-in-class integration to provide a simple, familiar way for PayPal users to fund crypto purchases on Coinbase. Our objectives aligned further as we deployed PYUSD in combination with our payments expertise enabling greater commerce applications.

We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center and driving further utility and adoption for digital currencies among developers, customers, and other users.”

The partnership’s ambitions extend beyond reducing financial barriers. Coinbase and PayPal will also explore innovative use cases for crypto payments, emphasizing real-world applications. From facilitating cross-border transactions to enabling seamless online payments, the initiative represents a strategic effort to demonstrate the tangible benefits of blockchain technology.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Payments giant PayPal is reportedly going to start offering customers yield on its proprietary stablecoin product.

According to a new report by Bloomberg, PayPay is planning on offering rewards to users of their stablecoin PayPal USD (PYUSD) as a means of increasing its usage.

The report says that the program is expected to launch sometime during the summer, though no specific date was mentioned, and would allow users of both PayPal and Venmo to earn 3.7% annually on PYUSD holdings in their crypto wallets.

The rewards – which accrue on a daily basis and get paid out monthly – will be paid in PYUSD which customers can then either convert to fiat currency, use for payments, or send to other users.

Jose Fernandez da Ponte, PayPal’s senior vice president and general manager of blockchain, crypto and digital currencies, told Bloomberg in an interview that the goal of the company is to incentivize use of stablecoins as a form of payment on its platform.

“We see stablecoins as building the next generation of payment rails but we are aware that is something that takes time. We are halfway [through] a 10-year journey.”

PYUSD launched in 2023 in collaboration with stablecoins issuer Paxos, which says that the token’s reserves are 100% held in US dollar deposits that are available for 1:1 redemption.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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PayPal announced plans to allow US users to buy, sell, and transfer Solana (SOL) and Chainlink (LINK) through its core platform and Venmo, marking the latest expansion in the payments giant’s crypto offerings.

The rollout, set to take place in the coming weeks, will increase PayPal’s supported digital assets to seven and respond to growing user demand for broader token access, according to an April 4 press release.

By adding Solana and Chainlink, two assets known for their decentralized infrastructure and enterprise utility, PayPal aims to cater to a broader segment of crypto users, from retail investors to developers and data providers.

The update comes amid continued volatility in the crypto market but reflects PayPal’s long-term bet that digital assets will become a core component of digital commerce.

PayPal CEO Alex Chriss, who took over in late 2023, has not spoken publicly about the company’s crypto roadmap, but his predecessor, Dan Schulman, was an outspoken advocate for blockchain integration, stating in 2022 that “the intersection between digital currencies and the digital wallet is a clear opportunity.”

With the addition of SOL and LINK, PayPal is reinforcing its role as a bridge between traditional payment infrastructure and blockchain-based finance.

Crypto expansion

The move highlights PayPal’s broader strategy to integrate blockchain-based assets into consumer financial tools. The company first entered the crypto market in October 2020, when it enabled US customers to buy and hold Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) within its app.

That launch was followed by crypto checkout functionality in March 2021, allowing users to spend digital assets at millions of merchants by automatically converting them into fiat at the point of sale.

In 2023, PayPal became the first major US financial platform to issue its own US dollar-backed stablecoin, PayPal USD (PYUSD), through a partnership with regulated issuer Paxos. The token’s launch marked a significant milestone, attracting attention from lawmakers and regulators as the debate over stablecoin oversight intensified.

According to DeFiLlama, as of August 2024, PYUSD briefly surpassed $1 billion in market capitalization before stabilizing around $760 million in circulation.

While the figure is modest compared to stablecoin giants like Tether (USDT) and USD Coin (USDC), analysts view PayPal’s involvement as a signal of growing institutional confidence in the sector.

In October, PayPal completed a business-to-business transaction using PYUSD to settle an invoice with consulting firm Ernst & Young, showcasing the stablecoin’s use in corporate finance.

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Traditional financial giants Bank of America and PayPal are making bold moves in the stablecoin sector, signaling the rising institutional interest in the sector, which is worth over $200 billion.

On Feb. 26, reports emerged that the Bank of America would introduce a stablecoin once the US regulatory landscape became apparent.

At the same time, PayPal revealed that it was working to expand the role of its PYUSD stablecoin within its payment ecosystem.

Bank of America’s stablecoin ambitions

Brian Moynihan, President of Bank of America, has hinted at the bank’s potential entry into the stablecoin market.

He acknowledged that stablecoins function similarly to money market funds or bank accounts with check access. According to Moynihan, regulatory approval remains the primary barrier to launching a USD-pegged stablecoin.

He reportedly said:

“If they make that legal, we will go into that business.”

His statement reflects the bank’s readiness to enter the sector once regulations permit. He also suggested that a future “BofA coin” could be tied to dollar deposit accounts, though he questioned its broader utility.

Moynihan’s statement is unsurprising, considering he had previously said that the US banking industry would embrace cryptocurrencies for payments if regulators allow it.

Bank of America is the second-largest bank in the United States, with total assets of $2.57 trillion.

PayPal’s PYUSD expansion

On the other hand, PayPal is actively working to integrate PYUSD into its payment ecosystem to boost its adoption.

Michelle Gill, a PayPal executive, detailed plans to embed the stablecoin deeper into its platform by enabling merchants to use PYUSD for vendor payments through PayPal’s network.

Beyond that, the company would also focus on incorporating PYUSD for international payments.

The executive explained that PayPal aims to eliminate currency conversion complexities and reduce transaction delays that plague the traditional system by integrating PYUSD into its cross-border payment system.

According to Gill:

“A lot of the payments we’re expecting are going to be cross-border because merchants in the US are seeking to pay vendors and suppliers abroad. The thesis was: Can we facilitate that on PYUSD rails so as not to have the currency conversion, the friction, as well as time?”

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An ongoing PayPal email scam exploits the platform’s address settings to send fake purchase notifications, tricking users into granting remote access to scammers

For the past month, BleepingComputer and others [1, 2] have received emails from PayPal stating, “You added a new address. This is just a quick confirmation that you added an address in your PayPal account.” 

The email includes the new address that was allegedly added to your PayPal account, including a message claiming to be a purchase confirmation for a MacBook M4, and to call the enclosed PayPal number if you did not authorize the purchase.

“Confirmation: Your shipping address for the MacBook M4 Max 1 TB ($1098.95) has been changed. If you did not authorize this update, please reach out to PayPal at +1-888-668-2508′,” reads the scam email.

The emails are being sent directly by PayPal from the address “service@paypal.com,” causing people to be concerned their account was hacked.

However, those who received this email confirmed that no new addresses were actually added to their accounts. In our case, the scam email was sent to an email address with no PayPal account.

Furthermore, as the emails are legitimate PayPal emails, they are bypassing security and spam filters. In the next section, we will explain how scammers send these emails.

The goal of these emails is to trick recipients into thinking their account was hacked to purchase a MacBook and scare the email recipient into calling the scammer’s “PayPal support” phone number.

When calling the number, a recording will automatically play stating that you have reached PayPal customer service and to hold while a support person becomes available. The call will then attempt to connect you to a “customer support” person.

This scammer will try to scare you into thinking your account was hacked and convince you to download and run the software so that they can “help” you regain access to the account and block the alleged transaction.

The scammer will direct you to visit a site like pplassist[.]com and enter a service code given by the fake PayPal employee. Entering this code will download a ConnectWise ScreenConnect client [VirusTotal] from lokermy.numaduliton[.]icu or other sites, which the scammer will ask you to run.

At this point, we hung up on the scammer and did not execute the program on our devices.

However, in previous scams like this, once the threat actor gains access to the computer, they attempt to steal money from bank accounts, deploy malware, or steal data from the computer.

Therefore, if you receive a legitimate email from PayPal stating you updated your address, and it contains a bogus purchase confirmation, simply ignore the email and do not contact the listed phone number as it belongs to the scammer.

To be safe, instead, log into your PayPal account and confirm no additional addresses were added, and if not, junk the email.

How the PayPal scam works

When BleepingComputer first received this email, we were confused as the email was sent from “service@paypal.com” to an email address that does not have a PayPal account associated with it.

Furthermore, the mail headers show that the emails are legitimate, passing DKIM email security checks and originating directly from PayPal’s mail server, as shown below.

Received: from mx1.phx.paypal.com (mx1.phx.paypal.com. [66.211.170.87])
        by mx.google.com with ESMTPS id 41be03b00d2f7-addf237d3e1si10521113a12.387.2025.02.18.07.30.09
        for 

It was unclear at first how these legitimate emails were being sent from PayPal until we noticed this text at the bottom of the email.

“If you want to link your credit card to this address, or make it your primary address, log in to your PayPal account and go to your Profile,” reads the PayPal email notification.

“Since this address is a gift address, you can send packages to it with just a click.”

Further research revealed that “gift addresses” are just additional addresses you can add to your PayPal profile.

In a test, BleepingComputer added a new address to one of our accounts and pasted the scammer’s fake MacBook purchase confirmation message into the Address 2 field.

After saving the address, PayPal sent us the same confirmation email, notifying us of the new address we added, which also included the fake purchase message.

Now that we know how they are generating the email from PayPal, we still do not know how they are getting PayPal to send it to all of the targets.

Upon further analysis of the mail headers, we can see that the email is actually being sent to the address “noreply_@usaea.institute,” which is the email address associated with the scammer’s PayPal address.

The headers further show that this email address automatically forwards the email it receives to “bill_complete1@zodu.onmicrosoft.com”, an account associated with a Microsoft 365 tenant.

This account is likely a mailing list, which automatically forwards any email it receives to all other group members. In this case, the members are you and I, the scammer’s targets.

When they add the scam address to PayPal, the payment platform will email a confirmation to the threat actor’s email, which will then forward it to the Microsoft 365 account, which then forwards it to everyone on the mailing list, as shown in the flow chart below.

PayPal enables this scam by not limiting the number of characters in the address form fields, allowing the threat actors to inject their scam message.

To fix this, PayPal needs to restrict the number of characters in the address field to a reasonable character count, like 50 characters, if not less.

BleepingComputer contacted PayPal about this scam and is awaiting a response to our email.