PayPal signals intent to broaden integration with crypto markets

PayPal is pulling out all the stops to integrate every possible blockchain and cryptocurrency feature into its services. This was said by Vice President Richard Nash at the World Economic Forum in Davos.

PayPal is looking to work with others to embrace everything, from digital wallets to CBDCs. @KristinaLCorner got in touch with PayPal vice president Richard Nash to get an insight into the leading payment processor’s blockchain and crypto plans. #WEF22 #Davos2022 pic.twitter.com/YMvxKbkNrn

— Cointelegraph (@Cointelegraph) May 23, 2022

“We strive to work with other [projects] to cover everything we can — whether it is coins we already have in PayPal’s digital wallets, private digital currencies, or CBDC in the future,” Nash noted.

The vice president also hinted that he has invested in crypto assets:

“I have a lot of things I’m working on at PayPal, and I enjoy using the services myself, so I think it’s natural.”

In November 2020, the company allowed US users to buy and sell bitcoin. In April 2021, a similar service was launched by PayPal’s mobile service Venmo.

In July 2021, the payments giant announced the completion of the development of its cryptocurrency wallet. Later, CEO Dan Schulman promised to enhance its functionality.

In January 2022, the company said it was studying the possibility of launching its own stablecoin изучении возможности выпуска собственного стейблкоина.

In February, PayPal formed a cryptocurrency advisory council. In Schulman’s view, the future financial system will intersect CBDC, stablecoins, digital wallets and cryptocurrencies.

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