PayPal selects Paxos to supply cryptocurrency for new service
The announcement is according to some people familiars to the matter, CoinDesk said. A formal announcement of the PayPal relationship could come as soon as this week. So far, US-based Paxos, launched Paxos Crypto Brokerage and announced its first customer in Revolut US, the American division of the UK-based fintech that offers Bitcoin trading.
The offering would make PayPal one of the most prominent mainstream companies to offer cryptocurrency purchases. However, it is not clear exactly which cryptocurrencies PayPal intends to offer. Paxos declined to comment for this story, the crypto publication added. PayPal did not return requests for comment by press time. CoinDesk broke the news of PayPal’s crypto plans on June 22, 2020.
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