Why PayPal’s Upcoming Crypto Service is a Big Deal
Although the recent speculation directly highlights PayPal’s intention to begin serving cryptocurrency enthusiasts, this isn’t the first time the online payment giant has flirted with the crypto space. But PayPal’s senior director of corporate strategy put a dampener on things by revealing that the partnerships only allow these platforms to accept cryptocurrency payments, rather than demonstrating PayPal’s interest in the industry.
Likewise, Pundi X recently integrated PayPal into its point-of-sale device ‘Xpos,’ allowing users in America to accept PayPal payments for cryptocurrency sales. Though NewsCrypto and Pundi X are the most recent crypto firms to boast PayPal support, peer-to-peer trading giants Local Bitcoins and Paxful have supported PayPal payments for years — which is part of the reason they have been so successful in acting as on-ramps to the cryptocurrency industry.
