PayPal, the online payment giant, has announced that it will formally join the cryptocurrency market, after rumors spread in recent years that the company had switched to Crypto player, but the matter was not settled until the middle of this week.
The company said that it will initially support 4 digital currencies as it will provide US account holders the ability to buy, sell and hold Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) And LTC in their PayPal wallets.
In the coming weeks, PayPal users in the United States should be able to handle and manage the aforementioned digital assets on one of the largest digital payment platforms in the world. .
It seems that (PayPal) is testing this step in the United States because it intends to expand this new service to other countries in addition to the application of the digital wallet Venmo during the first half From next year (2021).
PayPal is one of the largest global payment services, with 346 million active accounts and $ 222 billion in volume processed in the second quarter of 2020. It was also one of the initial founding members of the Libra Association, although it subsequently withdrew following increased organizational pressure on the project.
There is no doubt that the entry of (PayPal) into the digital currency market will have a wide-ranging impact on the spread of digital assets, whose circle has expanded greatly in recent years, especially with Several countries sought to popularize the idea and officially adopt it.
On the previous topic, Marc van der Schijs, an entrepreneur with venture capital that focuses on cryptocurrencies, commented: This could lead to a next mega game, This is simply because millions of people can suddenly use digital currencies.
A survey of the Bank for International Settlements indicated that one in ten central banks expects to launch their own digital currencies in the next three years, indicating a major shift towards currencies. Digital, which carries weight due to the current global pandemic and the ever-evolving technologies that support digital currencies.
Earlier yesterday, Dan Shulman, President and CEO of PayPal, said that switching to digital forms of currencies is inevitable, which brings with it Clear advantages in terms of financial inclusion and access; Efficiency of the payments system and ...
