PayPal Partners With Paxos To Launch Cryptocurrency Services
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Answer PayPal Partners With Paxos To Launch Cryptocurrency Services
A while ago, we indicated on the Arab Bitcoin website about PayPal’s intention to enter the world of crypto by preparing some mechanisms related to digital currencies.
male site CoinDesk Today, Monday, quoting two people familiar with PayPal, that there is a partnership that will be announced in the next few days that combines PayPal with Paxos and that this partnership is expected to be announced during this week.
Paxos Crypto Brokerage launched last week, and Revolut US is its first client.
Paxos’ brokerage service allows you to integrate the capabilities of buying, selling, holding and sending digital currencies through its various applications.
Paxos handles all organizational, technical, and liquidity aspects, while fintech companies take care of front-end experiences.
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As we indicated at the beginning of the article, PayPal revealed its plans to prepare mechanisms related to digital currencies last month.
It appears that PayPal is enthusiastic about cryptocurrencies, which emerged from a special letter PayPal sent to the European Commission last March praising the capabilities of cryptocurrencies and supporting their regulation at the level of the European Union.
Paypal’s launch of some cryptocurrency services could have a huge impact on the crypto market given that the giant PayPal has more than 300 million users.
But PayPal will not be on its own as there are already several other major fintech companies already offering cryptocurrency services including:
Robinhood, Square’s Cash, eToro, and SoFi app.
stated Charles Cascarilla, CEO of Paxos recently stated that the brokerage service offered could be a major turning point for the adoption of cryptocurrencies.
He added that Paxos is ready to expand its internal exchange, in order to meet the demands of new customers.
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Read also:
PayPal and Venmo are preparing to add the option to buy and sell cryptocurrencies
Officially … “Paypal”: We are developing mechanisms based on digital currencies
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