PayPal & Bitoin rumor mill

Coindesk reported on Monday that PayPal plans to launch cryptocurrency trading through Paxos' new brokerage service. At this point it is still unclear which crypto assets should be supported by PayPal, but it would be obvious to include the largest and most popular cryptocurrencies such as Bitcoin and Ethereum .

Enthusiasm for PayPal integrating its cryptocurrency platform goes back to June. The origin of all  speculation that cryptos like Bitcoin will soon be available on the payment giant is a "well-placed industry source". At least that's what Coindesk put it.

The source is said to have claimed that PayPal will allow new and existing users to buy and sell digital currencies, such as Bitcoin, on their platform. The news took the entire community by storm, and rightly the skepticism about the truth of this rumor was as great as the excitement. But as we reported on July 16, 2018, it now seems to be official . PayPal wants to get involved in Crypto.

The latest news about the partnership between PayPal and Paxos follows Paxos' announcement on July 15th that it will establish a crypto brokerage service that enables other companies to integrate crypto trading functions. The service can be used through a simple integration of an application programming interface and also manages compliance. According to Coindesk, PayPal will use this new service to provide its crypto trading functions.

PayPal's entry into the digital currency space would mean a significant development for the cryptocurrency industry. With a user base of over 300 million customers, PayPal could quickly become one of the largest trading centers for cryptocurrencies.

With the publication of the news, there were also voices that see a further rise in Bitcoin. We have already examined whether this opinion is justified in a separate article . In any case, Bitcoin & Co. is reaching the mainstream more and more, which could trigger a renewed bullrun that many investors have been longing for. The phrase "This is your last chance to buy Bitcoin for less than $ 10,000" will then come true. But the latter still has to prove the future.