Does PayPal automatically convert to USD?

I've been hearing a lot about PayPal's integration with cryptocurrencies, and it got me wondering: Does PayPal automatically convert all cryptocurrency transactions to USD? I'm aware that PayPal supports various forms of digital currency, but does it immediately convert those funds to US dollars upon deposit or withdrawal? This could have significant implications for traders and investors alike, as currency fluctuations could potentially erode any gains made. It would be helpful to know if PayPal handles these conversions automatically or if users have the option to hold onto their cryptocurrency balances.