Paypal Dispels Rumors Of Supporting Shiba Inu (SHIB)

Written by C, Fiona

Last updated: 2023-02-13

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“No, PayPal is Not Planning to Support Shiba Inu.”

Shiba Inu (SHIB) holders think PayPal is going to add Shiba Inu to its list of supported cryptos, but it turned out to be a rumor.

Leading payment platform PayPal made a tweet over the weekend that brought smiles to the faces of Shiba Inu community members. In a February 11 tweet, a Shiba Inu influencer named AdRock asked PayPal to provide clarity on whether it currently accepts Shiba Inu as a payment method.

“Hello, PayPal! Do you accept SHIB as payment? AdRock enquired.

Responding to the question, PayPal Support’s official Twitter handle informed AdRock to get his Shiba Inu “friend” to contact the support team to work on the possibility of accepting SHIB payments.

The response prompted widespread jubilation among Shiba Inu members who understood the significance of PayPal supporting SHIB.

PayPal Says It Doesn’t Add Shiba Inu

While members of the Shiba Inu community were still celebrating the development, the leading payment provider disclosed that it misunderstood the initial question. PayPal apologized for the confusion while stating that it does not accept Shiba Inu.

According to PayPal, U.S. customers can only buy, sell, and trade four cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), on its platform.

“I apologize for the confusion caused. Unfortunately, we don’t accept SHIBA…” PayPal added.

PayPal Cryptocurrency Services

Recall that PayPal ventured into the world of cryptocurrencies in 2020. The prominent payment provider launched a service in October 2020 that allows U.S. customers to buy, sell, and hold four cryptos, including Bitcoin, directly from their PayPal account.

Months later, PayPal also launched a checkout service for the four crypto assets, allowing its U.S. customers to use crypto to make purchases across millions of merchants globally. It is noteworthy that PayPal has continued to support only four crypto assets since it launched the service.

Although PayPal plans to expand the offering, the payment company never specified what crypto-asset would be added to the list.

Meanwhile, Shiba Inu coin has been widely adopted as a payment method. Top crypto payment providers like Binance Pay, BitPay, and CoinGate have fostered Shiba Inu payments.

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