PayPal Will Reportedly Allow Merchants To Accept Crypto
There have been all kinds of rumors about PayPal and digital assets adoption, and now, the latest piece of news seems to be optimistic.
PayPal working with crypto would be a huge step towards mass adoption.
PayPal to incorporate digital assets into their business
PayPal is reportedly working on incorporating cryptos into their business, says Sandi Bragar, a managing director at the investment management firm Aspiriant.
Bragar said in a new interview on CNBC that the payments giant’s openness to crypto is one of the reasons for which Aspiriant views it as a favorable stock for investors.
“It’s at the forefront of all the e-commerce and digital payments … we also like that PayPal is working with merchants to bring crypto into the fold,” says Aspiriant’s Sandi Bragar on $PYPL. pic.twitter.com/Ld6gKySaG0
— Squawk Box (@SquawkCNBC) September 17, 2020
She explained that the other reason is the massive impact that the pandemic has on commerce.
“It’s at the forefront of all the e-commerce and digital payments, and we think that there’s been a huge amount of demand as people have been staying at home, conducting commerce from their couch, from their beds, wherever they’re hanging out. And we think that’s going to continue as we move beyond this pandemic ultimately as people get out and about more and begin to resume more of a normal life,” she said.
More digital assets become more mainstream
She continued and explained that “We also like that PayPal is working with merchants to bring crypto into the fold, and we think that’s going to be really important as more of the cryptocurrencies become more mainstream in the years ahead.”
It’s been revealed back in July that PayPal was planning to announce a new partnership with the New York-based trust company Paxos.
Check out some official notes from back in July in order to learn more details.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.