PayPal fixes outage that affected thousands worldwide

(Reuters) -Payments firm PayPal (NASDAQ:PYPL) said on Thursday it had resolved an issue that led to a global outage affecting thousands of users for nearly two hours.

The company experienced a system issue that affected multiple products including account withdrawals, peer-to-peer payment service Venmo, online checkout and crypto.

PayPal said the issue, which started at 1053 GMT, had been resolved as of 1259 GMT.

Exchanges Coinbase (NASDAQ:COIN) and Kraken had also posted about outages with PayPal transactions and deposit delays, respectively, on their websites.

The outage occurred on a day bitcoin, the world’s largest cryptocurrency, has surged to levels to over $98,000 and pulled other crypto stocks along with it.

PayPal allows its clients to buy, sell and hold cryptocurrency.

Downdetector, which tracks user-submitted reports, had said there were nearly 9,000 reports of problems with PayPal transactions as of 1226 GMT.