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The various rumors about the arrival of cryptocurrencies in the PayPal ecosystem seem to be gradually emerging. The latest information on this relates to a partnership between the payments giant and the crypto-company Paxos.
PayPal embarks on crypto thanks to Paxos?
On Wednesday July 15, the Paxos Trust Company announced in a press release its new sector, specializing in cryptocurrency brokerage . Called "Paxos Crypto Brokerage" , this new offer allows any company to integrate in its own applications functions of purchase , sale and storage of crypto-assets.
The neo-bank Revolut was the first to announce its membership of the new Paxos service. In fact, the crypto previously purchased on Revolut were in fact as trackers price of cryptos - derivatives that merely duplicate the course of crypto . Thanks to Paxos, Revolut's American customers will finally be able to be offered more native crypto services.
Obviously, the neo-bank is not the only one to be interested in the Paxos offer. According to two anonymous sources cited by CoinDesk , Paxos Crypto Brokerage is the intermediary chosen by PayPal to introduce cryptocurrencies into its payment network.
An official announcement scheduled for soon?
For now, the information is at the rumor stage. No one knows exactly which cryptocurrencies will be offered to the 325 million PayPal users .
I think of course of Bitcoin (BTC) and Ethereum (ETH) which seem unavoidable, but PayPal could also offer the PAX and PAX Gold stablecoins from Paxos. The first is a stablecoin backed 1 to 1 against the US dollar . The second is backed by an ounce of gold (31.1 g).
In any case, the suspense should not last very long. According to the same sources, the announcement of the partnership between PayPal and Paxos could be made as early as this week .
For such a payments giant, going from strong opposition to adoption of crypto assets in its network is good news for the cryptosphere. Roll on the official announcement with all the expected details!
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