As of early 2021 PayPal customers will be able to use cryptocurrencies to shop at over 26 million merchants worldwide. It appears PayPal has realized that threat of cryptocurrencies and has chosen to adopt, rather than fight and die.
Source Article: Reuters
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“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said.– President and Chief Executive Dan Schulman
“U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said. It plans to expand to Venmo and some countries in the first half of 2021.” – Source
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Wow! This is incredibly bullish! The average Joe is well aware of PayPal & Venmo. Now the normans have a direct gateway to easily purchase Bitcoin & other crypto. Cryptocurrencies payments on PayPal will be settled using fiat. This is still a massive jump forward!
Dare I say… we are entering the next bullrun? I hope you’re locked and loaded – it has begun!
“PayPal, which has secured the first conditional cryptocurrency license from the New York State Department of Financial Services, will initially allow purchases of bitcoin and other cryptocurrencies called ethereum, bitcoin cash and litecoin, it said. It partners with Paxos Trust Company to offer the service.” – Source