The cryptocurrency derivatives exchange FTX has announced the addition of the PayPal system to its list of payment options.
CEO of the exchange, Sam Bankman-Fried said that deposits would be “instant.” They can be in “almost any” fiat currency, with a partner handling the conversion. Transfers can also be made using a credit card.
Bankman-Fried warned that large payments via traditional channels can be cheaper than via PayPal, but the funds will not arrive as quickly.
1) you can now get *instant* fiat deposits on FTX
2) you can now deposit *any currency*, more or less. Paypal converts for you.
3) Paypal charges are fees! If you’re doing a large transfer, wires are slower but cheaper.
4) credit card deposits work through it! https://t.co/Al1RtiE1xc
— SBF (@SBF_Alameda) March 2, 2021
Earlier PayPal CEO Dan Schulman promised to present an “expanded roadmap” in the context of blockchain and digital currencies. The company launched buying and selling Bitcoin for US customers on November 12.
In February, Schulman said the company aimed to become a digital wallet for CBDCs.
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