PayPal CEO Daniel Schulman revealed during a teleconference that the company plans to launch a new division to work in the cryptocurrency industry.
“We all know that the current financial system is outdated. We can envision the future: transactions completed in seconds, less expensive transactions, and access to the financial system for everyone, a new digital economy. Our company is investing heavily in a new cryptocurrency, blockchain and digital currency division to bring this new future closer, ”said Schulman.
He stressed that the company has a “very extensive project roadmap” related to cryptocurrencies and blockchain. Already this quarter, a new function is expected to be launched – users will be able to pay for purchases in various stores using cryptocurrencies in their accounts.
“And these are just the first of the new opportunities, because we are working hand in hand with regulators to ensure that they adopt new forms of digital currencies,” said Shulman.
According to him, PayPal users who have bought cryptocurrencies are twice as likely to open the app and evaluate their account balance. In the future, the company may also add support for government cryptocurrencies, if there is interest in such assets from users.
As a reminder, PayPal launched a cryptocurrency purchase feature in its app for US users in November last year. At the same time, the start turned out to be quite successful – only on January 11, PayPal users made transactions with cryptocurrencies for $ 242 million.
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