PayPal remains committed to cryptocurrency

PayPal is preparing to make blockchain and cryptocurrencies a more permanent part of its product offer.

This comes in the bearish market which has seen the value of many cryptocurrencies collapse rapidly over the past few weeks.

PayPal customers in the UK and the US can already make use of popular tokens, such as Bitcoin (BTC), Ethereum, Litecoin and Bitcoin Cash.

The platform now wants to support the launch of Central Bank Digital Currency (CBDC) whenever such options become available.

With the European Central Bank, the US Federal Reserve and the People’s Bank of China talking about the adoption of CBDCs, PayPal wants to make sure it’s on point.

Meanwhile, PayPal is also willing to invest in a cryptocurrency of its own, PayPal Coin.

The fact that the company is working hard to establish more blockchain and cryptocurrency options isn’t new as such.

The company’s reaffirmation of its commitment echoes its sentiments in March 2021, when PayPal said that it would allow merchants worldwide to use its service to check-out in crypto, enabling a revolution in crypto retail.

Many companies have since followed suite, benefiting from PayPal’s support for crypto retail purchases, and listed BTC and other currencies as viable payout options.

Presently, PayPal is geographically restricted in the reach of its cryptocurrency services, but this is expected to grow over time.

If you want to explore a number of gaming options using cryptocurrencies, you can do so by visiting 1xBit, FortuneJack, or Bitcasino.

Looking for your next crypto casino? Check out: Bitcasino, 1xBit or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

Similar News

Kraken fires 30% of workforce

01/12/2022|16:30

Cryptocurrency exchange Kraken is letting go of 1,100 of its employees, accounting for 30% of its workforce, due to the...

Copa del Rey NFT collection to be launched by...

01/12/2022|15:30

A NFT collection focusing on the Copa del Rey is going to be launched after a partnership was agreed between...