PayPal Reveals $1 Billion in Cryptocurrency Holdings on Balance Sheet

PayPal has officially divulged in its SEC 10-Q filing that it currently holds nearly $1 billion worth of cryptocurrencies on its balance sheet.

The company has reported that it has amassed a substantial amount of customer assets in bitcoin, ether, bitcoin cash, and litecoin on its balance sheet, amounting to $943 million. Notably, a 10-Q filing is a financial statement required by the SEC to disclose financial information on a quarterly basis.

Furthermore, the report shows a significant surge in customer crypto assets of $339 million since the close of last year.