PayPal’s entry into the cryptocurrency space will increase the adoption rate of cryptocurrencies

According to Cointelegraph’s July 1st news, foreign media recently said that payment giant PayPal will launch a cryptocurrency trading service. OKCoin Chief Operating Officer Jason Lau said that the digital assets on PayPal will further promote the adoption of encryption technology. Lau said: “When a traditional player like PayPal with 325 million users enters the cryptocurrency space, it will definitely have a positive impact in highlighting cryptocurrency to a new audience.”

On July 1, Cointelegraph stated that if PayPal really entered the cryptocurrency space, Bitcoin might become the mainstream payment option. Earlier news, American payment giant PayPal will launch the first cryptocurrency direct sales in the next three months. PayPal has also been found to be hiring experts in the field of cryptocurrency and blockchain. The report said that although PayPal did not comment on the rumors last week, experts are generally not surprised by the news. Alex Mashinsky, founder and CEO of the cryptocurrency loan platform Celsius Network, said that accepting digital assets simply means PayPal is looking at the future. He doesn’t think there is any contradiction between PayPal’s seeking to adopt digital assets and the company’s actions. PayPal’s mission is to allow everyone to participate fully in the global economy, and digital assets and blockchain technology can provide a wider access to the global financial system. , They are fully in line with this mission. John Todaro, Head of Institutional Research at TradeBlock, believes that mature mainstream companies are usually guided by the interests of potential customers rather than their past statements. He doesn’t think that the traditional payment companies’ advancement to the digital currency is necessarily slapping their past statements. Wayne Chen, CEO of fintech company Interlapse, believes that PayPal will have to compete with head cryptocurrency exchanges such as Coinbase, but PayPal’s biggest rival may be Square’s App, which also provides alternative payment solutions.

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