While PayPal’s interest in cryptocurrencies is no longer in doubt, the company’s vice-president repeated his aim to deliver the most comprehensive offering to its users by incorporating all crypto and blockchain-related services.
According to Richard Nash, vice president of the company, the worldwide online payment giant is working hard to establish all available digital services, including those related to cryptocurrencies and digital central bank currencies (MNBC).
During the World Economic Forum, this statement was given to the American media outlet Cointelegraph.
PayPal aims to extend its digital currency business after launching Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) payments in the United States, according to Richard Nash:
“We want to collaborate with others to include anything we can, whether it’s the coins we have today in PayPal digital wallets, private digital currencies, or future MNBCs.”
PayPal strives to provide its users with the most comprehensive service possible. When asked if he owns cryptocurrency during this statement, PayPal’s VP implied that he does:
“I have a lot of stuff I work on at PayPal and I like to experiment with the services myself, so I think it’s natural. »
PayPal is one of the world’s largest payment companies, and in recent years it has experimented with cryptocurrencies and blockchain.
It has almost 420 million users. And this symbolizes a gold mine for the company’s growth. Compared to the same quarter in 2020, its revenue climbed by 19% in the second quarter of 2021.
This rise is primarily related to PayPal’s Venmo payment service.
The app’s transaction volume increased by 58 percent between 2020 and 2021 after enabling cryptocurrency payments in April 2021.
PayPal announced the development of its own checkout service last year to enable merchants to accept cryptocurrency payments.
Earlier this year, the corporation announced the creation of its own stablecoin, PayPal Coin.
There is no doubt that the company wishes to be a reference in the area, and with its efforts, it is well on its way to being a model for other businesses.