PayPal CEO Dan Schulman is the company's 4. in its earnings statement for the quarter yesterday, it announced new steps to take in relation to cryptocurrencies. PayPal has started allowing cryptocurrency transactions in recent months, and even transactions that are still Limited have had a big impact on the market.
PayPal's New Steps
Schulman said that after they started offering cryptocurrency services, they received a huge return, and the volume of cryptocurrencies traded on the platform was far above expectations.
As for the moves to be made in the coming days, Schulman said cryptocurrencies will be considered a source of funds when users shop at any of the 29 million businesses. According to Schulman, 2021 will offer a comprehensive roadmap around crypto, blockchain and digital currencies.
PayPal is actively working with regulators and central banks to shape the future of the cash World after physical transactions, Schulman added. In addition, according to the statements, PayPal is ready to invest heavily in cryptocurrency developments.
Plans For 2021
In addition, the company said its “Buy, Hold and sell cryptocurrency” initiative will expand into Venmo and international markets in 2021. In addition, according to the company's statements, people who trade cryptocurrencies through PayPal are starting to use the app more and their usage rates are at least doubled.
Meanwhile, in November, PayPal took a major step towards adopting digital assets by allowing US users to purchase crypto directly through the app. Customers based in the United States can handle transactions on a limited basis of $ 20,000 per week. Since then, crypto trading volume on the platform reached a record high with $ 242 million transactions on January 11th.
In addition, in 2021, PayPal users will be able to start using cryptocurrencies for purchases in the business network of 26 million people.