PayPal CEO: Cryptocurrencies Will Reshape the Financial World

Digital assets and blockchain will revolutionise the financial system. This was stated by PayPal chief Dan Schulman at Axis Tel Aviv 2022, according to CTech.

“Most people think about buying and selling cryptocurrencies and about what the price of Bitcoin will be tomorrow. … For me, digital currencies are a class of assets … it’s their usefulness in payments.”, said the executive.

In Schulman’s view, the financial system will be at the intersection of CBDCs, stablecoins, digital wallets and cryptocurrencies.

Earlier in February, PayPal formed an advisory council on cryptocurrencies.

Previously, the company opened the possibility of buying/selling Bitcoin, and several other cryptocurrencies for U.S. users. In April 2021, a similar service was launched by PayPal’s mobile payments service Venmo.

It was reported that the company is considering plans to launch its own stablecoin, as well as a crypto wallet.

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