PayPal, a major electronic payments company, has revealed that it is safeguarding almost $1 billion in cryptocurrency assets, with the bulk of it being made up of Bitcoin and Ether. The reported amount is an increase of $339 million compared to the previous period, likely due to the recent rise in the prices of these digital assets. However, PayPal does not actually hold the crypto assets itself, but instead relies on third-party custodial service providers to secure its customers' crypto assets. These third-party custodians hold the crypto assets in a custodial account in PayPal's name for the benefit of its customers.