- PayPal is getting ready to introduce a cryptocurrency buying and selling service on the platform.
- According to a recent report, PayPal is getting ready to allow people and businesses to buy and sell crypto directly from their platforms.
Today marks the day of some exciting news from the crypto space as PayPal, the well-known payments company, is getting ready to introduce a cryptocurrency buying and selling service on the platform.
According to a recent report on the matter, a person familiar on this new development has revealed that PayPal and it’s peer-to-peer payment platform, Venmo is getting ready to allow people and businesses to buy and sell crypto directly from their platforms. The source highlighted that they will be introducing a kind of built in wallet function so you can store your assets there.
In the industry, bitcoin and other crypto assets have posed some serious competition to PayPal ever since it was created. This is due to the assets class significantly reducing the transaction charges that are inherent with traditional payments processes such as the payment platform of PayPal.
The source who reveals the news also made mention that PayPal will heavily rely on numerous platforms as liquidity providers for the transactions in question. Despite this, no clear details have specified which cryptocurrencies the company will be offering to its users at the time of writing.
This news is highly exciting for the future of mainstream adoption for the crypto industry. Over the past few weeks, months, and years, adoption in the industry has taken somewhat of a slump. With this new support from one of the biggest names in finance, who knows what the future will hold for bitcoin and the world of crypto.