PayPal selects Paxos to supply cryptocurrency for new service

Monday 20 July 2020 10:18 CET | News

PayPal has been released plans to bring crypto trading to its large user base and has chosen Paxos to handle the new service’s supply of digital assets.

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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Keywords: PayPal, Paxos, cryptocurrency, Bitcoin, US, digital assets, wallet, partnership, Revolut
Categories: DeFi & Crypto & Web3
Countries: United States
This article is part of category

DeFi & Crypto & Web3