According to a senior PayPal executive, the company is working hard to integrate every conceivable blockchain and cryptocurrency interface into its services.
PayPal Vice President Richard Nash said in an exclusive statement on May 23 that the company is working hard to offer all possible digital services, including digital currencies and central bank digital currency (CBDC). PP continues to extend its digital currency-related product after launching its Bitcoin (BTC) buy, hold, and sell service in the United States in 2020. Nash noted:
“Just walking slowly around the crypto shield with buys or holds in certain jurisdictions. […] Looking to work with others to embrace everything we can, whether it’s the coins we have in PayPal digital wallets today, private digital currencies, or CBDCs in the future.”
“I have a lot of things I'm working on at PayPal and I like to try out the services, so I think that's natural.”
PayPal, one of the largest payment companies in the world, has just entered the cryptocurrency space and blockchain. In March 2021, PP launched its cryptocurrency checkout service to allow retailers to accept cryptocurrency payments and introduce BTC buying and selling options in specific areas. PP is also considering establishing its stablecoin, PayPal Coin.