CBDCs could be distributed through PayPal's digital wallets

Monday 15 February 2021 09:44 CET | News

Central bank digital currencies (CBDCs) could be distributed through PayPal’s digital wallets, Dan Schulman, the company’s CEO said, according to CoinDesk.

During its investor day, the company’s CEO laid out a vision by which central banks distributed CBDCs to consumers across income levels using PayPal. Schulman also revealed that PayPal is looking into smart contracts and tokenization of other non-crypto assets.

The payments company also released new numbers around the transaction activity of its customers who use its crypto products. PayPal customers that use its crypto services have a 12% increase in weekly transactions on the platform, CoinDesk added. This is in part because more than 40% of the US PayPal customers who use crypto return to complete more than two additional transactions, the company said.

To learn more about CBDCs, download our ebook Central Bank Digital Currencies for Dummies – A Quick Guide into CBDCs.

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Keywords: central bank digital currencies, CBDCs, PayPal, smart contracts, tokenization, digital money, US, digital wallets, Central banks
Categories: DeFi & Crypto & Web3
Countries: United States
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DeFi & Crypto & Web3

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