PayPal has removed the waiting list for its cryptocurrency purchases and increased the buy limit to $20,000 power week for its US users, according to a press release published on Nov. 12.

• From Nov. 12, all US holders will be able to buy, sell and hold supported cryptocurrencies, with the waitlist removed due to high demand 
• The firm has also further increased the buy limit to $20,000 per week, having previously increased its from $10,000 to $15,000, again due to heavy demand
• PayPal President and CEO Dan Schulman was quick to praise the utility of cryptocurrencies and said that the company would work closely with regulators and central banks to achieve adoption 
• The press release also noted that PayPal would focus on partnerships with cryptocurrency platforms; the company is rumored to be looking to acquire companies, with custodian BitGo being one possible candidate
• PayPal announced that it would offer crypto services on Oct. 21, which immediately had an impact on Bitcoin’s price; the company has partnered with Paxos to facilitate trades
• Users will not be able to send tokens to friends or family, use it pay for good and services, or transfer it to an external wallet
• PayPal is expected to bring the service to more countries and its Venmo app in the first half of 2021, though few details have been offered so far