PayPal Denies Rumors of Supporting Shiba Inu (SHIB) Payments

On the weekend of February 11th, PayPal, a well-known payment platform, posted a tweet that made Shiba Inu enthusiasts happy. An influential Shiba Inu figure by the name of AdRock tweeted to PayPal asking for clarification on whether they currently accept Shiba Inu as a form of payment.

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

In response to the inquiry, the official Twitter account for PayPal Support advised AdRock to get his Shiba Inu “friend” to get in touch with the support team to discuss the possibilities of accepting SHIB payments.

https://twitter.com/AdRock_0x/status/1624462111639494656?s=20&t=IjXxBq5dQCHf64UX9Up_nA

Shiba Inu members who grasped the significance of PayPal backing SHIB were ecstatic at the response.

Hello there, thank you for contacting PayPal. I'm aware that you want to know you accept $SHIB as payment. I recommend you to tell your friend to contact us directly via DM so that it would be taken care of. Thanks! ^LKP
— PayPal Support (@AskPayPal) February 11, 2023

PayPal Noted It Doesn’t Support SHIB

The top payment service said it had misread the initial question as the Shiba Inu community rejoiced over the announcement. PayPal acknowledged the misunderstanding and apologized but said that Shiba Inu was not accepted.

PayPal claims that just four cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH)—can be bought, sold, or traded on its platform by American users.

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

https://twitter.com/AdRock_0x/status/1624776384995368960?s=20&t=o-wZuod3wjrL5nEzmKUrkA

Previous PayPal Crypto Services

Recall that in 2020, PayPal began to explore the world of cryptocurrency. In October 2020, the well-known payment company introduced a service that enables Americans to buy, sell, and store four cryptocurrencies, including Bitcoin, straight from their PayPal accounts.

A few months later, PayPal introduced a checkout service for the four cryptocurrencies, enabling American consumers to use cryptocurrencies at millions of major retailers. PayPal only supports four crypto assets since it started offering the service.

Although PayPal intends to increase the options, it has never disclosed which digital currency would be added.

However, Shiba Inu has been widely accepted as a form of payment. Leading cryptocurrency payment providers, including BitPay, CoinGate, and Binance Pay, have supported Shiba Inu payments.

Olasunkanmi Abudu

Olasunkanmi Abudu is a Web3 content writer with over five years of experience covering blockchain, decentralized finance, and digital assets. He specializes in producing well-researched and accessible content that explains complex technologies and market trends to both general readers and industry professionals.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.