PayPal fan of Bitcoin and cryptocurrencies – Demand is „considerable“, and the giant does not want to miss a thing

The payment giant in ambush – According to its 2020 activity report, PayPal had the highest volume of transactions in its history (16 million active accounts in the fourth quarter). This would be due to its services allowing the purchase, sale and storage of various crypto-assets. The big boss of payments does not intend to stop there.

The beginnings of a rise in power

By now offering Bitcoin and cryptocurrencies for purchase and sale to his customers, Dan Schulman , CEO of PayPal, raises doubts about his future plans, which are heavily focused on the incorporation of digital currencies .

By its own admission, the reception given to their initiative far exceeds all expectations, observing a record of 277 billion dollars traded in 3 months , well beyond the 267 expected, as the fourth quarter report attests.

An overview with multiple ramifications

It’s no surprise that Venmo is tipped to be the cornerstone of this massive future crypto-plan. The innovative network launched by PayPal, which combines e-market and social feeds, appears to bear a great number of expectations for its creators, as the younger public and accustomed to tech seem predisposed to adopt these new modes of consumption.

But the “Big Money” is elsewhere. With these new products, PayPal is arousing the curiosity of corporate giants , these traditional banking establishments which are beginning to pay more attention to the Bitcoin phenomenon, while it still represents only a tiny part of global finance. The company that will be able to build the bridges between the old and the new economic situation will necessarily be crowned queen of the ball. It is also rumored that PayPal plans to open the possibility of paying its merchants in the near future , by supplying its balance with Bitcoin and cryptocurrencies.

It is clear that the stars are aligned on the crypto planet. Obviously, the first to embark will be the best served. When it comes to the digital world and payment methods, PayPal tries to stay ahead. Let’s wait and see the rest!