Published
3 years ago on
October 22, 2020
Quick take
1.5 minute read
- PayPal, one of the biggest payment platforms in the world, is getting ready to start accepting crypto payments on its network.
- The news was announced yesterday on the 21st of October and proved to be a very exciting moment for the crypto community.
Unless you’ve been living under a rock for the past 24 hours, you will have heard that PayPal, one of the biggest payment platforms in the world, is getting ready to start accepting crypto payments on its network.
The news was announced yesterday on the 21st of October and proved to be a very exciting moment for the crypto community. For a company the size of PayPal, once being sceptical on the use of blockchain and crypto, to start accepting them and even pushing for adoption to some extent, is very exciting.
In fact, at one point, PayPal even blocked payments that were in any way linked to the asset class.
But this week, they have revealed that they will be including bitcoin, bitcoin cash and numerous more cryptocurrencies on its platform in 2021.
Despite many people on crypto Twitter showing their appreciation and excitement for the move, the chief executive officer of the San Francisco-based blockchain initiative ripple, Brad Garlinghouse sang a different tune following the reveal…
Taking to Twitter, Brad said that this was a move “2 steps forward, 1 step back”. You can see his tweet below:
2 steps forward, 1 step back…Great to see a payment pioneer leaning in, BUT disappointing some fundamental tenets / benefits of crypto are spurned. I suspect PayPal is concerned about the (wait for it…) regulatory uncertainty, impacting its roll-out on a number of levels. https://t.co/aPVv85jrNR
— Brad Garlinghouse (@bgarlinghouse) October 21, 2020
It is well known that the head of ripple isn’t a fan of the way that the United States is approaching the world of cryptocurrency. In the past, the company has even contemplated moving to another country to somewhere which has friendlier crypto regulations.
For more news on this and other crypto updates, keep it with CryptoDaily!
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