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PayPal is exploring crypto capabilities: New letter expose their intents!
Recently, the media news spreaded intentions of PayPal to provide Crypto selling to their 300 millions users around the globe, that was until now never been confirmed by the PayPal Inc. In a new letter directed to the European Union is clear that the Giant worldwide payment company is working on crypto capabilities, PayPal says on the referred write-up that "*unilaterally they are working further to develop their steps into Cryptocurrency field*", and that confirms that they are into Crypto and studying more about the ecosystem. https://www.tbstat.com/wp/uploads/2020/07/PayPal.pdf
Paypal have been involved with Crypto since 2014 but not in direct integration with their services, have been working with payment processors and Coinbase offered clients in European Union, Canada and U.S to withdraw their earnings directly to PayPal accounts. In 2019 the fintech Company also associated with the Facebook project of global stablecoin Libra, but withdrew from it months later at the time mentioning that " was pursuing their owns projects". https://www.coindesk.com/paypal-announces-first-partnerships-bitcoin-space https://www.theblockcrypto.com/linked/42101/paypal-officially-drops-out-of-facebooks-libra-project If the fintech company start to offer Cryptocurrency service to customers could bring more than 300 millions around the world, increasing the dominance of Crypto service. https://www.theblockcrypto.com/linked/69201/paypal-venmo-crypto-buy-sell-report The letter to European Union is a response from PayPal for a public survey consultation in December 2019 and date from March 2020, the motive of the survey leaded by European commission was to get feedback on Building a framework for Cryptocurrency in Europe, and the Giant seems to be supportive to the framework and to regulate it the fintech company believe that the commission must create effective rules to grant investor protection and to put Crypto into a law of anti Money laundering. https://www.coindesk.com/paypal-announces-first-partnerships-bitcoin-space Stay tuned for more Cryptocurrency and Blockchain news, take care!
38 comments
Better days ahead for crypto
Well that number can bring a lot of awareness to the crypto space🙌
True we pray it will Soonest🙏
Yep let's continue to see it happen!
Yea we are part of the Founding Fathers🙌🤷🏽😂😂
Sure!
This will be a welcome development for Crypto currencies.
Yes a big one but accordingly with that letter they also have concerns in regulations issue and raise it to EU commission to arrange them to comply with anti money laundering!
If that happens, it will be like a huge step forward to the bright future of cryptos. Hopefully everything will work just fine.
Yep but that will still have a long way to go and if that turns to reality surely many things into Crypto field will run smoothly👌
Yes. it might also solve another problem. Not every country accepts Paypal as a payment method. So with cryptos it might an option to use Paypal services.
Yes they could also gain more traction on countries that they don't have acceptance increasing their presence worldwide.
Gotta fight back Ripple, and crypto in general like ETN, TRX, etc
I believe they need to overcome themselves and innovate or they will face big consequences in future!
Yes Ripple has really shoaled them and they must now move fast. At least ITT will be cheaper. Almost zero from $25 plus
Let's see what will be their reaction!
Good for PayPal to buy crypto.. business is business.
Ye p they will sell crypto if the EU commission arrange it to comply with anti money laundering.
I think, Paypal will be having a hard time at first but when they operate and accept crypto, they will surely have a lot of potential to be one of the leading global trading of crypto since paypal is very widely used even before
Yes they will have a big participation on the development of crypto buy and sell worldwide with they large userbase of 300 millions it will be a great new money entering the crypto space!
I think that's totally right. Super excited about it and will surely be adopted by many people. Crypto is surely leading our way for better days to come
Yes that will be a great catalyst to all Crypto field!
Thanks for the wonderful article sir 🙏
Oh thanks for that, I always try my best🙌
Crypto is the future
Yes that is a very true statement "Crypto is the future"!
Yea! ✌️
That will be nice ,,, but they need to lessen there charges .. cause it's a little bit high...
When times come to deal with Crypto they must review those fees or can lose customers to the concurrent dealers in Crypto.
This is a really bullish news for the crypto world. Paypal will really be a boost if all this actually happens
Yes this could be a great boost to Crypto and we can see a he money got into crypto with more than 300 million people from more than 200 countries entering the ecosystem.
Totally agree. I really hope it happens soon as I want to see people adopting crypto at a mass scale
Yes the more people in the more adoption Crypto will have.
True. Let see how soon it happens
Now is just to seat back and wait to see it happens.
Yes. Sit back and relax
That's the plan🙌let's seat back and watch all developments happen!
how sad