2021-06-18

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PayPal will allow to exchange “own” bitcoins with other services

2 min read

Paypal debuted in the cryptocurrency market last year, allowing millions of their users to buy and sell Bitcoin. Now the business is ready to expand the presence in the global network of cryptoacivals, allowing not only to acquire and sell Bitcoin, but also to transfer third-party users to the currency.

Decrypt.co

Earlier, skeptics argued that Paypal trades “unreal” bitcoins, since users did not have the opportunity to transmit cryptocurrency to anyone else outside the company’s ecosystem.

Yesterday, the head of the blockchain technology and cryptoactives Jose Fernandez da Ponte, said that PayPal users and associated Venmo payment service will finally get the opportunity to send bitcoins to the platform like the Coinbase trading platform and third-party cryptococheries.

The Top Manager PayPal added that the company is interested in attracting custom cryptoacivals and that people can use them in commerce, as well as send to other owners of wallets on their own selection. At the same time, he refused to name the specific deadlines for the introduction of a new service, and how blockchain transactions will be organized during cryptocurrent trading.

financemagnates.com

Financemagnates.com

At the moment, PayPal for conducting operations with Bitcoin cooperates with the Blockchain-Infrastructure provider by PAXOS, and also uses the services of other partners. It is possible that the company will build its own infrastructure for payments, since she recently acquired CURV startups involved in crypto security issues.

In recent months, the head of Paypal Dan Schulman (Dan Schulman) began to consider cryptocurrency and blockchain technology as a whole as one of the main parts of their business. According to the media, he acknowledged that these technologies have enormous potential, which makes it possible to reduce the value of remittances, especially in developing countries. In addition, their use provides advanced access to financial services in general.

According to some reports, PayPal also works on creating a “stubbindow” – cryptonality, the cost of which is tied to the price of one of the real world currencies. Fernandez da Ponte refused to share details, but also did not refute the rumors.

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