Biggest Corporations Sceptical of Introducing Crypto Payment Option By Cointelegraph


Biggest Corporations Sceptical of Introducing Crypto Payment Option

The news that PayPal, the payments giant with 325 million active user accounts worldwide, was considering the direct sale of crypto assets — along with custodial services — had the crypto community buzzing last week, even if the reports couldn’t be verified. On July 1, a PayPal representative told Cointelegraph: “PayPal does not comment on rumors or speculation.”

Guy Hirsch, the United States managing director of eToro, told Cointelegraph: “The importance of a global company like PayPal and Venmo getting into crypto is profound.” It will change the nature of cross-border transactions, which are now expensive and slow. Moreover, Hirsch added: “We’ll see more companies following the footsteps of Facebook (NASDAQ:), and now PayPal, to leverage crypto for cross-border payments, settlement and other use cases needed to optimize for a global economy.”

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