PayPal is ready to double its bet on crypto
Payment giant to offer crypto payments to merchants and limited trading on Venmo
By 2021, the renowned digital payments company, PayPal, is expected to exceed the expectations of many with the new proposal called Buy, Hold, and Sell Cryptocurrencies, which intends to double the bet maintained by the company towards cryptocurrencies, blockchain and digital currencies.
Leaving behind its limited cryptocurrency trading service, PayPal CEO Dan Schulman assured that the company is prepared to double its commitment to digital currencies. “The volume of cryptocurrencies traded on our platform far exceeded our expectations,” reported Schulman.
Regarding the acceptance of cryptocurrencies, the executive assured that digital assets will be received “as a financing method when users buy in any of our 29 million stores“, so that by the end of the year they can have a “broad roadmap around cryptocurrencies, blockchain and digital currencies.”
For his part, the CEO reported that the company continues to work hard and actively with regulators and central banks in order to guarantee a future without cash.
The initiative is expected to be extended to “Venmo and selected international markets” in 2021. PayPal also reported that platform users will become more active, generally after purchasing cryptocurrencies.
K.Villarroel
Source: Cointelegraph