Saturday, December 10, 2022

PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President

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PayPal, known globally for being one of the world’s leading online payment systems, would soon accept all forms of crypto and blockchain services. This was made known by Richard Nash, the company’s vice president.

Nash’s Notable Revelation

Speaking today, in an exclusive statement to Cointelegraph at the World Economic Forum, Nash revealed the latest development about PayPal. According to him, the company is putting in efforts to enable the use of all digital services on the PayPal platform.

The announcement comes two years after the company had rolled out such crypto services for world’s leading cryptocurrency, Bitcoin, across the U.S. The plan would include digital currencies, as well as, central bank digital currencies (CDBC).

Critics and doubters have been shown an early red card by Nash, who suggested his personal stance and experience with cryptocurrency. A question about him holding any crypto was met by an answer that clearly hints he does despite not being definitive.

Nash is not the only leading executive with an experience in cryptocurrency though. A previous report by Cointelegraph three years earlier, revealed PayPal CEO, Dan Schulman, as a Bitcoin holder. PayPal could also launch their own Stablecoin, PayPal Coin.

PayPal Has Been Bullish On Crypto

PayPal’s acceptance of crypto is a huge milestone for both the company and users alike. While the use of PayPal is already popular in sorting out daily financial activities, especially by online gamblers, the prospect of a better package is mouthwatering.

The security of using the platform is a boost on check against crypto scams. PayPal had previously worked as a form of wallet for deposits and payments of goods and services. A major added benefit is the opportunity of being able to purchase top cryptocurrencies.

The introduction of cryptocurrency to the platform means cryptocurrencies can also be used as a form of payment. An increased crypto popularity has been viewed as a means of bridging the income gap in the U.S.

Speaking from a blog post on Coindesk.com, Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, crypto and digital currencies, confirmed the move to be an effect of the growing popularity of cryptocurrency.

He reveals a plan that revolves around familiarity in user experience. Ponte believes any form of success in the future hinges on proffering solutions to the present problems and opening the door to innovation.

 

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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