PayPal expands opportunities for working with cryptocurrencies

The world’s largest payments company, PayPal, said it will expand its digital tools experience. This information is contained in a letter sent to the European Commission, notes The Block.

In particular, it is said that the announcement by the social network Facebook of the launch of its own cryptocurrency project called Libra became a powerful catalyst for the revitalization of the company’s work in this direction. Thus, the letter notes that PayPal “is tracking the evolution of the cryptoasset space” and has already taken steps in this direction. The payment giant even left the Crypto Project Association, citing a desire to focus on his own business. At the same time, the company demonstrated a positive attitude towards the latest technologies, noting that they will significantly improve the availability of financial services and reduce pain points in existing payment services.

It is worth noting that with such an extensive client base (over 300 million users), PayPal can become a powerful driver for the development of the crypto industry.