PayPal could be finally allowing its crypto holders to withdraw their assets and send them to third-party wallets. Earlier today at CoinDesk’s Consensus 2021 virtual conference, Jose Fernandez da Ponte, PayPal’s general manager for blockchain, announced that he wants their consumers to have the opportunity to transfer cryptos from PayPal. Since introducing crypto to their platform in October 2020, PayPal users have been only able to buy, sell, and hold crypto.

During the conference interview today, da Ponte said “We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay. They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice.”

The statements from da Ponte sounded promising, but there wasn’t a definitive answer if crypto transfers will come to the platform soon, or even a target date of when that would be added. For now, the only cryptocurrencies you can purchase off of PayPal are Bitcoin, Ether, Litecoin, and Bitcoin Cash. PayPal is still in the early stages of having crypto of its platform so hopefully it can develop these features more rapidly this summer.

Many cryptos have seen bearish movements for most of this month, but this week they’ve turned it around. If PayPal were to add a feature that allowed users to send crypto to different wallets, that could help push a bullish movement for cryptos such as BTC and ETH. Not only could it benefit cryptos, but more users would possibly take PayPal more seriously as a platform to hold those type of assets.