Thursday, 22 October 2020 06:53

Paypal to Offer Cryptos by Early 2021

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PayPal Holdings , Inc. revealed on Tuesday that it would provide its customers with the ability by early next year to acquire, retain and sell cryptos directly from their PayPal account.

It also proposed a plan to expand the usefulness potential of its crypto substantially by making it freely accessible to its 26 million users worldwide as a means of financing for transactions.

"Our global presence, experience in digital payments, a two-sided network, and robust security and enforcement measures give us the opportunity and obligation to help promote the awareness, redemption, and interoperability of these new trade instruments," he said.

In addition, he added, "We look forward to partnering with central banks and regulators around the world to give our support and to contribute significantly to defining the role that digital currencies can play in global finance and exchange in the future."

This offering was made possible through a partnership with Paxos Trust Company, a regulated provider of crypto services and products.

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