PayPal offers Crypto? Experts think so. Experts believe that soon, PayPal offers Crypto options to their customers will be trending soon. PayPal has stated already in a public letter to the European Commission that they are developing “Crypto Capabilities”.
In the letter, they wrote:
As such, PayPal is continuously monitoring and evaluating global developments in the crypto and blockchain/distributed ledger space. Of particular interest for us is how these technologies and crypto-assets can be utilized to achieve greater financial inclusion and help reduce/eliminate some of the pain points that exist today in financial services.
There were already rumors of a potential partnership with crypto-broker Paxos. The word on the street was that they would offer the direct purchase of Bitcoin and other cryptocurrencies. Based on PayPal’s views to date and rumors, experts believe that PayPal will be the next major company to support Bitcoin.
Ari Paul recently predicted that PayPal could make their announcement about Bitcoin by end of 2020. He is the CIO and managing partner at BlockTower Capital.
Tyler Reynolds, a former employee of Google Payments, said similar things. However, he doesn’t think that PayPal will go much further than Bitcoin. Ethereum is too much competition for PayPal. He said so in a tweet:
Current theory: Square and PayPal are pro-Bitcoin & cold on Ethereum because they want to be retail payment rails for BTC. They don’t want to give ETH a platform as it provides a full financial alternative that disintermediates PayPal & Square.
One of the Winklevoss twins, Cameron, also stated a few days ago that Square and MicroStrategy was just the beginning of companies protecting themselves against global inflationary policies. Central banks could even follow suit, he said.
Bitcoin is on its way to becoming a corporate treasury asset. @michaelsaylor and @jack are leading the charge. Soon many other companies will follow, and eventually central banks. This is just the beginning…
What do you think? Do you think PayPal will adopt cryptocurrency and Bitcoin by end of 2020 or at least announce it? Let us know on our Facebook page!