{"id":2345,"date":"2020-10-22T05:46:50","date_gmt":"2020-10-22T05:46:50","guid":{"rendered":"https:\/\/businessner.com\/?p=2345"},"modified":"2020-10-22T05:46:50","modified_gmt":"2020-10-22T05:46:50","slug":"paypal-is-introducing-crypto-services-for-trading-and-shopping","status":"publish","type":"post","link":"https:\/\/businessner.com\/paypal-is-introducing-crypto-services-for-trading-and-shopping\/","title":{"rendered":"PayPal is Introducing Crypto Services for Trading and Shopping"},"content":{"rendered":"

PayPal is thinking about a new feature for trading and shopping with Cryptocurrencies, the latest announcement by the company on Wednesday<\/a>.<\/p>\n

The company said that it is planning a launch in the U.S within the coming weeks. The initial services will replicate the features of Bitcoin<\/a>, Litecoin<\/a>, and many other digital assets.<\/p>\n

However, there is a plan to expand the crypto shopping network by 2021. This shopping network might attract 26 million retailers, according to a press release<\/a>.<\/p>\n

\n

\u201cThe shift to digital\u00a0forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly.\u201d<\/p>\n

-Dan Schulman, president and CEO, PayPal.<\/p>\n<\/blockquote>\n

PayPal has been watching the rise of digital payments driven by the Coronavirus Pandemic and wants to increase the utility of digital currencies worldwide.<\/p>\n

This is a signal from the company to make cryptocurrencies available as a funding source to the customers. Unfortunately, previous attempts to make cryptocurrency a mainstream product have been hampered due to the volatility and trust issues.<\/p>\n

Also Read:\u00a0China\u2019s Stock Market again hit $10 Trillion level in Five Years<\/a><\/strong><\/p>\n

\"PayPal
Users embracing e-commerce and digital payment methods at a much faster rate than anyone ever thought possible; File photo<\/figcaption><\/figure>\n

But central banks around the world like China, Russia, and some European countries found digital currency a great solution for borderless and fast transactions.<\/p>\n

The online payment giant thinks that some central banks are working their way to create digital currencies within the next three years.<\/p>\n

CNBC claimed that seven top central banks including Federal Reserve<\/a> and European Central Bank<\/a> laid out blueprints for a new digital currency system. Furthermore, the People\u2019 Bank of China<\/a> became the first central bank to announce a digital currency trial to stay ahead in the race.<\/p>\n

Also Read:\u00a0Robinhood Users are Reporting Looting Activities Inside the Account<\/a><\/strong><\/p>\n

\"PayPal
The pandemic is propelling a shift toward a cashless society; File Photo<\/figcaption><\/figure>\n

A previous report published by Businessner<\/a> stated the role of Central Banks in the development of the new technology for the currencies. Keeping all the things in mind, PayPal is working with cryptocurrency startup Paxos<\/a>.<\/p>\n

A virtual currency license has been obtained from the New York regulators on condition. However, the company had no comments on the conditional license.<\/p>\n

The new cryptocurrency features will be initiated on the Venmo mobile wallet in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

PayPal is thinking about a new feature for trading and shopping with Cryptocurrencies, the latest announcement by the company on Wednesday. The company said that it is planning a launch in the U.S within the coming weeks. The initial services will replicate the features of Bitcoin, Litecoin, and many other digital assets. However, there is […]<\/p>\n","protected":false},"author":3,"featured_media":2348,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"PayPal Plans to Launch Crypto Trading and Shopping Feature in the US","_seopress_titles_desc":"PayPal is thinking about a new feature for trading and shopping with Cryptocurrencies, latest announcement by the company on Wednesday","_seopress_robots_index":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[41],"tags":[311,365,310,805,401,804],"_links":{"self":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/2345"}],"collection":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/comments?post=2345"}],"version-history":[{"count":4,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/2345\/revisions"}],"predecessor-version":[{"id":2352,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/2345\/revisions\/2352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media\/2348"}],"wp:attachment":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media?parent=2345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/categories?post=2345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/tags?post=2345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}