Digital payments giant PayPal reportedly plans to facilitate cryptocurrency trading through a new partnership with stablecoin operator Paxos. Industry news outlet Coindesk reported on July 20 that PayPal plans to introduce crypto trading through Paxos’ new brokerage service. As of press time, it is unclear which crypto assets will be supported by PayPal.
The report follows the July 15 announcement of Paxos’ launch of a crypto brokerage that enables other firms to integrate crypto trading functionalities. The service can be used through a simple application programming interface integration and also manages regulatory compliance. According to Coindesk, PayPal will use this new service to deliver its crypto trading features.
The entrance of PayPal into the digital currencies space would signal a major development for the cryptocurrency industry. The payments giant was previously a member of the Libra Association — the governing council for Facebook’s proposed stablecoin. However, following a wave of skepticism from the public and regulators alike, PayPal withdrew from the body in October 2019.
PayPal to Reportedly Offer Crypto Trading Through Paxos Partnership, CoinTelegraph, Jul 20
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies