Affirm To Join PayPal In Allowing Users To Buy And Sell Bitcoin, Other Cryptos

Affirm Holdings Inc AFRM is planning to allow its customers to buy and sell cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD.

What Happened: The revelation was made by the company in a presentation on Tuesday. 

See Also: How To Buy Bitcoin (BTC)

The presentation showcased a mobile phone that displayed Affirm’s upcoming cryptocurrency services. 

Affirm is working with New York Digital Investment Group LLC on the cryptocurrency offering, as per Bloomberg, which first noted the presentation made for the company’s Investor Forum.

Why It Matters: Last October, Paypal Holdings Inc PYPL said it was launching a service to buy, sell and hold cryptocurrencies.

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Last month, the Peter Thiel-co-founded firm said it was expanding the services internationally to the United Kingdom.

This month, Affirm recorded fourth-quarter earnings per share of negative 48 cents, which came in lower than the estimated earnings per share of negative 29 cents.

Quarterly revenue for the period was $261.8 million, which beat the estimate of $226.39 million. 

Price Action: On Tuesday, Affirm shares closed nearly 10.8% lower at $114.52 in regular trading and rose almost 2.7% in the after-hours to $117.60.
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