Recently, the CEO of PayPal said that It exceeded their expectations regarding crypto trading, though they have launched a limited buy/sell/ and hold crypto trading but it was outstanding, according to them they (PayPal) are ready to double down on cryptocurrencies.
The CEO of PayPal Noted that, “We also saw an exceptional response from our crypto launch,” they basically got astonished at seeing the response. “The volume of crypto traded on our platform greatly exceeded our expectations.” He also said that crypto would be accepted “as a funding source when any user shops at any of our 29 million merchants” late first quarter, and that 2021 will feature an “extensive roadmap around crypto, blockchain and digital currencies.”
Basically, In 2020 November, PayPal made a major step towards adoption of digital assets by allowing the US users to buy directly through the app. Customers based in the United States are limited to trading $20,000 per week. Since that time, crypto trading volume on the platform has reached record highs, and the peaking almost $242 Million in these transaction on Jan. 11.
Finally, He wanted to say that “We are significantly investing in our new crypto, blockchain, and digital currencies unit,” It’s really a good signal for the cryptocurrency platform.