PayPal are reportedly planning to bring crypto to it's users using Paxos.

[roberthays]

So it looks like PayPal are speeding up their interest in finally utilising crypto on it's platform and interestingly, there are rumours that they'll be using Paxos to handle the supply.  Revolut have also decided to go with Paxos quite recently too. Overall, i'm looking forward to seeing how PayPal will tackle implementing cryptocurrency. It seems that PayPal have finally given into the fact that cryptocurrency offers a lot of competition to their business model in terms of speed and fees and that it's probably best for them to implement cryptocurrency too.

Article reference: https://www.coindesk.com/paypal-picks-paxos-to-supply-crypto-for-new-service-sources-say

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[Dpat]

This is a good decision of the PayPal for the integrating of the crypto in their platform not because of the business smoothness but nowadays it is required for the client as they need for the instant deposit and transfer.

[Coin_trader]

Paxos is a great choice for a perfect stable coin to partner with. Besides that it is fast and have a decent volume, the team behind it is reputable compared to the leading stable coin like USDT(Tether). PayPal is too centralized and because of that, they are slow and there transaction is incredibly high. Its a good thing that they are adapting decentralized concept or else they will be left behind.

Just like the famous saying, "If you can't beat them. join them"

[Fluttershy]

If an industry giant like PayPal starts exploring crypto avenue that could be a game-changer for the entire crptoverse coz that would mean that crypto has finally entered into the mainstream market which in turn will make crypto community huge.

[tsaroz]

That is a safe bet as they don't have to actually deal with crypto while get a commission for making people use paxos. And paxos also has relatively better range of stablecoins that goes well with Paypal business modal. It would be a win win for both Paxos and Paypal while Paypal bound users would be able to easily get into crypto world.

[livingfree]

Their business model doesn't have to choice but to adopt cryptocurrencies. Competing with it is completely useless on their end, they can't beat it anymore considered the fees are cheaper.

The transaction time is quicker.

The final option they've ended up is to join the crypto craze!

[rexxarofmoknathal]

I don't see why they would partner with a random like Paxos, when they could just bring these services in-house?

They're a multi-billion dollar company, and providing cryptocurrency brokerage services isn't exactly the hardest thing in the world...

maybe they're just trying to avoid the regulatory hurdles before going solo later on.

[tycsols]

So it looks like PayPal are speeding up their interest in finally utilising crypto on it's platform and interestingly, there are rumours that they'll be using Paxos to handle the supply.  Revolut have also decided to go with Paxos quite recently too. Overall, i'm looking forward to seeing how PayPal will tackle implementing cryptocurrency. It seems that PayPal have finally given into the fact that cryptocurrency offers a lot of competition to their business model in terms of speed and fees and that it's probably best for them to implement cryptocurrency too.

Article reference: https://www.coindesk.com/paypal-picks-paxos-to-supply-crypto-for-new-service-sources-say

Obviously Paypal was losing business and their revenue was falling and they were feeling the pressure from community as well as their own management to go with the flow and introduce advanced crypto payments or atleast add it to paypal platform if they have to survive in the payments sector. I am happy that paypal has taken this decision it will be win win for both paypal and crypto as paypal will attract new users and gain revenue while crypto will gain confidence as well as adoption.

[conkeconke]

They saw the potential of Binance's implement their own credit/debit card with Binance token. This gives them, PayPal a lot of push to come forward their implement of cryptocurrency. Good news and good marketing from a giant like PayPal will help cryptocurrency as a whole becoming more acceptable for public.

[electronicash]

i can read some comments about all these being fake since paypal has no real public announcement regarding their crypto exploration. it would really be a game changer for all cryptocurrencies that are very live today. this will really pump all other coins if the news are true.

They saw the potential of Binance's implement their own credit/debit card with Binance token. This gives them, PayPal a lot of push to come forward their implement of cryptocurrency. Good news and good marketing from a giant like PayPal will help cryptocurrency as a whole becoming more acceptable for public.

so the reason for them to act now is that they don't want binance card to be more dominant soon.

[Yaunfitda]

If an industry giant like PayPal starts exploring crypto avenue that could be a game-changer for the entire crptoverse coz that would mean that crypto has finally entered into the mainstream market which in turn will make crypto community huge.

But we have to wait for years to really see the effect of  this. It won't be any easy journey for crypto to suddenly became mainstream just because Paypal ride on the boat and join the hype train. There could be problems in the beginning, issues and complains that need to be address before people gets confidence of using Paypal or Paxos in entering crypto space. We should need more patience here before we can say that crypto has finally entered into mainstream with the help of Paypal or any other third party services out there. We still need people to understand what crypto is, and this will take some time to educate the masses because what they all know is that it is a scam or being use by criminals because this is how mainstream media portray it.

[irixo10]

This is just the simple fact and they can't deny it for long, crypto has come to stay, crypto will keep dominating and crypto will keep challenging existing platforms and anyone not willing to leverage on its potentials will be left out. Technology evolves and platforms who are always ready for change stands better chance of growing even more than those that sticks to their old business model. Let's keep watching as things unfold but indeed it is getting interesting and for sure more platforms will soon join up or watch their competitors beat them who might have leveraged on Crypto.

[bitkanu]

This is a good decision of the PayPal for the integrating of the crypto in their platform not because of the business smoothness but nowadays it is required for the client as they need for the instant deposit and transfer.

As long as Paypal will create cooperation with the existing stable coin and that will be much better rather than seeing Paypal will create a direct service toward crypto. In fact, this will help the adoption for crypto by Paypal users too. We will see whether Paypal will add more options or not.

[n0ne]

PayPal being the leader in the cross border fiat transactions coming up with plans of integrating Paxos for cryptocurrency based transaction is a good move. PayPal might have took surveys about the people's need for cryptocurrency in transaction. PayPal choosing Paxos seems to be a fair decision as it is a stable crypto with very minimal fluctuation. By this the volume of Paxos will also increase in the market. Good for both Payal and Paxos.

[inanilujimi]

every collaboration that has been made using crypto certainly has advantages for each company. if the plan can be realized, of course, it can make people who use Paypal also interested in using crypto, I believe the crypto market will experience an increase when it happens.

[Moeda]

It would be nice if PayPal uses Bitcoin, so PayPal does not only make a payment instrument, but can be used as an investment place. Paxos is only an stablecoin, and is not suitable for investment.

[WannaCry]

this news is good to hear.. paypal is trying to implement the use of cryptocurrency.. i think they saw already the big potential of crypto..they are already invading the crypto world. people with paypal account and are into crypto is a piece of good news for them

[eaLiTy]

PayPal is notorious for freezing the user funds without giving the user much clarity and BTCitcoin is created to overcomes these sort of centralized payment system and now these payment systems need to grow according to the innovative new markets and they are providing BTCitcoin to its customers when we have a payment system that do not need a centralized companies to send the funds. It might introduce new users to BTCitcoin but i do not think anyone who used BTCitcoin will be using these services.

[mersal]

So it looks like PayPal are speeding up their interest in finally utilising crypto on it's platform and interestingly, there are rumours that they'll be using Paxos to handle the supply.  Revolut have also decided to go with Paxos quite recently too. Overall, i'm looking forward to seeing how PayPal will tackle implementing cryptocurrency. It seems that PayPal have finally given into the fact that cryptocurrency offers a lot of competition to their business model in terms of speed and fees and that it's probably best for them to implement cryptocurrency too.

Article reference: https://www.coindesk.com/paypal-picks-paxos-to-supply-crypto-for-new-service-sources-say

Finally they tends to agree that crypto currencies are also can be used for payments, but still it is getting like a rumor so lot of people just speculating about this to increase the crypto market size more bigger but if it happens for real then we can see next level adoption from normal people.

[Samayuki]

So it's Paxos after all? Good choice and here I was thinking that PayPal will come up with their own scratch built blockchain, anyways it's good that crypto is getting more popular every damn day, I'm so excited for the future