WEF 2022: PayPal looks to embrace all possible crypto and blockchain services

According to a senior executive of PayPal, the global payment giant is working hard to integrate blockchain and cryptocurrency into its services.

Vice president Richard Nash stated that PayPal is committed to supporting all digital services including central bank digital currencies (CBDC) and digital currencies. This was in an exclusive statement made by Nash to Cointelegraph on May 23.

Nash pointed out that PayPal is expanding its offering in digital currency, after launching its Bitcoin buy, hold, and sell service (BTC) throughout the United States 2020.

“Just walking slowly in crypto shield with buys and holds in certain jurisdictions. […] We are looking to collaborate with others to embrace all that we can, regardless of whether it’s the coins we have in PayPal digital wallets or private digital currencies.

Nash also suggested that he was a cryptocurrency owner which is in perfect alignment with his PayPal position. The VP was asked if he owns any cryptocurrency.

Cointelegraph reported that PayPal CEO Dan Schulman stated that Bitcoin was the only cryptocurrency he holds as of November 2019.

Related: WEF 2022 – Ripple SVP: Crypto winter offers an opportunity to build

PayPal, one of the largest global payment companies, has made significant investments in crypto and blockchain over recent years. PayPal announced in March 2021 its own crypto check out service to enable merchants to make crypto payments. According to reports, the firm may also launch its own stablecoin called PayPal Coin.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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