PayPal has announced that it will now facilitate Bitcoin transactions, and the buying, holding, and selling of Ethereum, Bitcoin Cash, and Litecoin will also be supported. Bitcoin and a handful of other cryptocurrencies have been in circulation for several years and are part of a broader transition that has seen the financial services industry increasingly embrace digitalization. In fact, many banks are now considering issuing their own digital currencies. “The shift to digital forms of currencies is inevitable, bringing with it clear benefits in terms of financial inclusion and access; the efficiency, speed and resistance of the payment system; and the ability of governments to quickly disburse funds to citizens,” explained Dan Schulman, PayPal Chairman and CEO. "Our global reach, digital payments expertise, two-way network, and rigorous security and compliance controls provide us with the opportunity and responsibility to help facilitate the understanding, acceptance, and interoperability of these new exchange instruments."