Crypto for the people is here, especially for the people of the United Kingdom
PayPal announced during its investor day, its vision for the future of the United Kingdom and its digital wallet platform,Venmo apps.
It is with much anticipation and expectation that PayPal Crypto Products will go live in the first half of 2021.
Jonathan Auerbach, Executive Vice President & Chief Strategist, and Growth & Data Officer at PayPal, stated that “the results from the new products have exceeded expectations”.
“We’re actually looking at our crypto services to help position PayPal, to help shape the role of cryptocurrencies and CBDCs in consumer payments, commerce and financial services safely and securely,” Auerbach said. “So early days for us here, but we’re moving rapidly.”
In its Q4 2020 earnings, Paypal reported a 11.8% increase in transaction revenue quarter-over-quarter, and said that customers who purchased crypto through the platform have been logging into PayPal twice as much as they were before buying crypto.
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