Biggest Corporations Sceptical of Introducing Crypto Payment Option By Cointelegraph

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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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