Users of the renowned cryptocurrency derivatives platform FTX will now employ PayPal to top up their trading accounts.
The CEO of Sam Bankman-Fried, FTX, tweeted on Tuesday that users can get “instant” payments to their accounts if they use the PayPal option.
Most currencies are supported by the payments giant, and MasterCard payments can also be made via PayPal, Bankman-Fried explained.
He cautioned though that, due to PayPal’s fees, larger payments would be cheaper for users if transferred to accounts with bank wires.
FTX is known for offering innovative derivatives products. It’s earlier launched the Shitcoin Futures Index as how to short alternative crypto assets; “TRUMP” and “BIDEN” futures prior to the 2020 United States presidential election; and a derivatives contract supported the Airbnb IPO.
PayPal moved into the cryptocurrency ecosystem last year, sending markets soaring when it announced it might permit users to purchase and sell a cryptocurrency, as well as offering merchant services.