PayPal seeks to encompass all cryptocurrency and blockchain related services

PayPal wants to continue the development of crypto-related services

The global online payment giant is working intensively to develop all possible digital servicesincluding those related cryptocurrencies as well as central bank digital currencies (MNBC), confirmed company vice president Richard Nash. This statement was made to the American media Cointelegraph during the World Economic Forum.

After launching Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) payments in the United States, PayPal wants expand its digital currency offeringsays Richard Nash:

“We seek to work with others to encompass everything we can, whether it’s the coins we have today in PayPal digital wallets, private digital currencies, or MNBCs in the future. »

PayPal seeks to offer the most complete service to its users. During this statement, the VP of PayPal hinted that he owns cryptocurrency when asked if he does:

“I have a lot of stuff I work on at PayPal and I like to experiment with the services myself, so I think it’s natural. »

This seems consistent with its ambition in the world of cryptocurrencies.

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PayPal’s crypto services are a success

PayPal is one of the largest payment companies in the world, which has dabbled in cryptocurrency and blockchain in recent years. She counts over 420 million users. And it represents a goldmine for business growth. Its revenue increased by 19% in the second quarter of 2021 compared to the same quarter in 2020.

This increase is mainly due to the Venmo payment app, owned by PayPal. After introducing cryptocurrency payments in April 2021, app transaction volume increased by 58% between 2020 and 2021.

Last year, PayPal announced the launch of its own cashier service to enable crypto payments for merchants. The company confirmed earlier this year the development of its own stablecoin named PayPal Coin.

There is no doubt that the company wishes become a reference in the field and given her efforts, she is well on her way to becoming a role model for other companies.

👉 To read on the same subject: PayPal recruits a team entirely dedicated to cryptocurrency in Ireland

Source: Cointelegraph

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About the Author : Timothy Bernines

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Passionate about the world of investment, cryptocurrencies have been attracting my attention for a few years now. Having a major interest in the fields of new technologies and Web 3, this is why I naturally wanted to write articles on Cryptoast, in order to contribute to the democratization of this universe in society.
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