“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly.”
– Dan Schulman, president, and CEO, PayPal.
On October 21, 2020, PayPal officially announced a new service that would enable customers to buy, sell, and hold cryptocurrency using the platform. The company has continued its vision to offer cryptocurrency services globally with its latest expansion in the United Kingdom.
A story broadcasted by a well-known Dublin-based media outlet this past Sunday stated that the company is looking for fresh talent to join the blockchain and cryptocurrency division within the United Kingdom – specifically, Ireland.
PayPal Looks To Expand Cryptocurrency Services Globally
“We are eager to work with central banks and regulators around the world to offer our support and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”
– Dan Schulman, president, and CEO, PayPal.
Initially, the company had introduced its services to American consumers exclusively but with limited features. Namely, enabling them to trade cryptocurrencies directly within the PayPal digital wallet.
However, according to the October 2020 press release, PayPal outlined its vision for global expansion within international markets, with plans for global adoption set for the first half of 2021. Quoted below, Dan Schulman, the president and CEO of the company, commented on the recent expansion.
“The companies crypto business surpassed all expectations in its initial six months of the operation itself as BTC and ETH struck their all-time highs and propelled the overall cryptocurrency market capitalization to a $2.6T benchmark.”
About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years.
By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform empowers more than 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy.
For more information, visit paypal.com.
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