PayPal chief executive Dan Shulman believes Bitcoin will ultimately be used more for day-to-day payments rather than as a store of value. He said this in an interview with CNBC Squawk Box.
During the coronavirus pandemic, the use of cash has dropped significantly, Shulman says. According to him, up to 70% of consumers do not want to deal with them anymore.
Earlier this month, PayPal opened up Bitcoin and several altcoins to its US customers and is working to integrate trading platforms to allow merchants of goods and services to accept digital payments.
“Using cryptocurrency as a potential payment instrument for daily purchases will increase its functionality and stabilize it,” said Dan Shulman, noting that the company had consulted with global regulators before launching the service.
According to him, merchants will be able to accept bitcoin as payment next year.
Jeff Bezos-Supported African App Launches Crypto Trading
African-based Chipper Cash, backed by Amazon CEO Jeff Bezos, has raised $ 30 million and is launching a crypto trading service due to high demand for digital assets. Platform customers will be able to buy and sell cryptocurrency and US stocks (such as Tesla, Amazon, or Apple) through the app.
An African international payments startup Chipper Cash raised $ 30 million in its next investment round, news.bitcoin writes. It was led by venture capital firm Ribbit Capital with the participation of Bezos Expeditions, personal investment fund of Amazon CEO J. Bezos.
Chipper Cash, created 2 years ago by H. Serunjogi (Uganda) and M. Mujaled (Ghana), implements free mobile P2P payment services. They are available in 7 regions of the continent (Ghana and Uganda, Nigeria and Tanzania, Rwanda and South Africa, and Kenya). The application enables customers to send and receive money throughout Africa. The service boasts 3 million customers. At the same time, he conducts about 80 thousand transactions daily.
The platform team is going to use the collected funds to provide additional products, as well as to develop their services in the territories of other states. The CEO noted that they noted the demand from their users "for the provision of other valuable services ... for example, the acquisition of cryptoassets and investment in shares."
Chipper Cash has already added the ability to buy and sell BTC in beta to its website and app. In addition, the partnership with the US financial company Drivewealth allows using the application to also invest in American stocks.
Serunjogi explained that the first to test the new product are Nigerians, and then residents of other countries. He noted that Nigeria users “will be able to purchase shares in Tesla, Apple, Amazon and others” using the app.
Serunjogi believes the support of prominent investors such as Jeff Bezos benefits Africa as a whole. Recall that Bezos is now the richest man in the world with a fortune of $ 200 billion.
Ripple has opened a vacancy for the director of relations with central banks
Fintech company Ripple has posted a vacancy for an expert specializing in central bank digital currencies (CBDC).
The Senior Director of Central Banking requires years of experience in corporate technology sales and working with financial institutions.
Ripple will give preference to a candidate well versed in digital assets and blockchain technology.
The responsibilities of the future employee include managing CBDC projects, as well as creating communication channels between central banks and various project teams. Another area of responsibility is managing the company's strategy in this direction and building relationships with global regulators.
