Recently, the media news spreaded intentions of PayPal to provide Crypto selling to their 300 millions users around the globe, that was until now never been confirmed by the PayPal Inc.
In a new letter directed to the European Union is clear that the Giant worldwide payment company is working on crypto capabilities, PayPal says on the referred write-up that "unilaterally they are working further to develop their steps into Cryptocurrency field", and that confirms that they are into Crypto and studying more about the ecosystem.
Paypal have been involved with Crypto since 2014 but not in direct integration with their services, have been working with payment processors and COINBASE offered clients in European Union, Canada and U.S to withdraw their earnings directly to PayPal accounts. In 2019 the fintech Company also associated with the Facebook project of global stablecoin Libra, but withdrew from it months later at the time mentioning that " was pursuing their owns projects".
If the fintech company start to offer Cryptocurrency service to customers could bring more than 300 millions around the world, increasing the dominance of Crypto service.
The letter to European Union is a response from PayPal for a public survey consultation in December 2019 and date from March 2020, the motive of the survey leaded by European commission was to get feedback on Building a framework for Cryptocurrency in Europe, and the Giant seems to be supportive to the framework and to regulate it the fintech company believe that the commission must create effective rules to grant investor protection and to put Crypto into a law of anti Money laundering.
Stay tuned for more Cryptocurrency and Blockchain news, take care!
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