Crypto Adoption: PayPal Reveals Crypto Plans
The mainstream adoption of crypto s has been one of the most important goals in the crypto space.
There have been a lot of moves made towards the achievement of this massive goal, and they continue even in 2020 when we’re in the middle of a global crisis that’s been triggered by the pandemic.
PayPal reveals crypto plans
One important player who would have a lot to say in this direction is PayPal.
The online publication the Daily Hodl notes that PayPal is offering a glimpse at its stance on digital assets.
This comes amidst the reports that the payments giant is getting ready to allow its users to buy, sell and store cryptos.
The online publication mentioned above notes that in a letter submitted to the European Commission, PayPal said that it is tracking developments in the digital assets industry.
They also made sure to point out the fact that they are working hard to understand the crypto space and the ways in which the blockchain technology can provide financial solutions.
“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. We also have great interest in how these technologies can be used to promote transparency and enhance compliance efforts,” PayPal wrote.
PayPal’s interest in crypto surged with Libra
You may already be aware of the fact that PayPal’s interest in crypto dates back to when they joined the Facebook-led Libra Association last year.
PayPal noted that “Since the project’s inception, PayPal has taken unilateral and tangible steps to further develop its capabilities in this area, and therefore – without questioning the value of the project – took the decision not to participate in the Libra Association and to continue to focus on advancing our existing mission and business priorities to democratize access to financial services.”
Also, PayPal decided to leave the consortium at the end of 2019.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.