Cryptocurrencies are no longer the cult object they used to be. Well, in recent years virtual currencies have become a common element of the international financial system. Leading to that more and more companies want to invest in this sector to take advantage of the profits it can generate. Therefore, as Tim Copeland comments in the Tweet of the day, PayPal wants to expand its services in cryptocurrencies:
PayPal CEO: “Early next year, we’re going to allow cryptocurrencies to be a funding source for any transaction happening on all 28 million of our merchants.”
That’s pretty huge.
– Tim Copeland (@Timccopeland) November 23, 2020
PayPal in the world of cryptocurrencies
Just a month ago, the crypto world welcomed the news that PayPal, the major digital payments company, would enter the crypto market. Allowing the purchase, sale and storage of Bitcoin on its platform, through an alliance with Paxos, and the cryptocurrency exchange of this company, itBit.
Thanks to this movement, operations related to cryptocurrencies on the PayPal platform have increased steadily in the last month. Being the main responsible for an increase of more than 20 million dollars in the volume of itBit transactions. Getting even close to the transaction figures handled by Binance in the United States, through Binance.US.
However, PayPal has no intention of stopping here. Well, as the CEO of the company, Dan Schulman commented. PayPal has a high level of confidence in the future of cryptocurrencies. Therefore, the company will continue to invest in these assets in the coming years, opening the doors for businesses to receive payments using cryptocurrencies.
“At the beginning of next year, we are going to allow cryptocurrencies to be a source of financing for any transaction that occurs with our 28 million merchants. That’s pretty big, ”said the CEO of PayPal.
Thus, as shown by the Schulman quote replicated by Copeland in his tweet. Wanting to expand its cryptocurrency services, PayPal would be one of several traditional companies that are gambling unreservedly on the future of Bitcoin. A movement that will provide greater confidence by the market in the cryptocurrency. Representing an important advance in the process of massification of virtual currency.
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