The rumors came up again in an interview on CNBC. PayPal could therefore integrate Bitcoin payments. The fact that PayPal could be involved is discussed again and again Interview with CNBC Sandi Bragar commented positively on the possible introduction of Bitcoin and other cryptocurrencies on PayPal. Bragar is a member of the management team at Aspirant Asset Management, which is headquartered in Los Angeles, and said that given the ever-increasing public interest in cryptocurrencies, it is very promising that PayPal could process such payments soon. According to Bragar, this would strengthen global e-commerce and also successfully expand its own position in the market. She also expects increased use of online retail by end consumers because the ongoing COVID-19 pandemic is making this market environment more favorable. In the end, this is also good for the payment service provider, who plays a large part in the processing.
PayPal and Bitcoin – rumors linger
At the end of June, a report that announced the early introduction of Bitcoin and other cryptocurrencies caused a stir. However, the report relied on a single anonymous source, and a month later the subject was re-fueled as a possible partnership between Paxos and PayPal was discussed. Overall, however, both reports were not particularly helpful because there was no confirmation from either company. PayPal also did not provide any explanation as to whether and when they would want to offer payment processing with Bitcoin. There was also no confirmation on the subject of buying and selling cryptocurrencies.
Every year: PayPal, China, India
It is a little telling that certain messages are circulated at a certain rhythm. China, India and Korea prohibit and allow cryptocurrencies at regular intervals. Most of these are regulatory measures that are ultimately stylized in the media as the end of the world. Unfortunately, the same applies to PayPal. This is not the first time we have been talking to the company and should the rumors not prove to be true in the end, reports will likely appear again in the coming years, so it is well advised to be careful with any excessive media coverage.
BTC is still interesting for PayPal
The reason the rumors persist is that PayPal does have some interest in Bitcoin and other cryptocurrencies. However, it is of great importance for the Group to act in full compliance with anti-money laundering laws. PayPal made these and other points clear in a statement to the EU: Since regulation is relatively inconsistent internationally and to a large extent is still in its infancy, cryptocurrencies remain a difficult business area. In addition, political pressure is developing in certain areas: PayPal was interested in Libra very early on, but announced its exit in 2019 when it was foreseeable that Western politicians would unite against the stablecoin. Also promising is the fact that that PayPal has its own research and development department for blockchain technology. The job advertisements from this department were also included in media reports, so it remains a true core, but in the end it is not as dazzling as the reporting.