PayPal Expands Crypto Services to UK, Drives Adoption Higher
Paypal CEO, Dan Schulman, has just confirmed the news that PayPal will expand its crypto services to the UK.
It is reported that the expansion will be implemented in August 2021, which could be a positive sentiment for the market.
This news surprised the market as a result of seeing the UK's view of crypto being negative but not considered an obstacle by PayPal.
PayPal Expands to UK Next Month
While giving an official statement to PayPal's financial publications for the second quarter of 2021, Schulman stated that he still believes in crypto.
He feels that the momentum of crypto can be leveraged by PayPal and through his company he pledges to support crypto.
PayPal is reportedly in the process of collaborating with several financial institutions and banks in the UK to carry out this expansion.
From the official statement, the purpose of this collaboration is to make it easier for the British people to get fast crypto payment services.
Unfortunately, this expansion also continues to get some negative responses and even criticism due to the closed PayPal system.
Many parties argue that the adoption of PayPal into the crypto world is a bad thing because PayPal is not transparent and centralized.
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However, all these criticisms have been responded to by PayPal stating that they will integrate with third parties.
With a third party involved, all fund transfer flows will be more transparent and eliminate user worries.
In an official publication by the CEO of PayPal, it was reported that all was going according to plan. However, he did not provide an official schedule. He stated,
In addition to stating about PayPal's plan, Schulman also seems to have touched on several things related to the revolution in the financial system and central bank digital currency.
The Push Against the Crypto World Is Getting Stronger
Previously, PayPal was one of the companies that seemed to have a negative view of crypto as a whole.
In 2008, the former CEO of PayPal, Bill Harris, stated that Bitcoin is a bad and strange means of payment and store of wealth.
But beyond people's expectations, everything has changed and now PayPal is one of the companies that provides crypto services.
In October 2020, PayPal shocked the whole world when it first announced its adoption of crypto.
At the time, PayPal stated that its platform would make it easier for users to trade crypto in the United States.
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Not only that, PayPal also immediately announced that users can store crypto such as Bitcoin, Litecoin, Ethereum, and Bitcoin Cash on its platform.
Currently PayPal has continued to advance and is seen moving to several other countries to provide crypto services to the public.
Although still focused on America and Britain, it is possible that crypto services from PayPal will also spread throughout the world.
Regarding its existence in the process of developing a central bank digital currency, there is currently no further information.
However, seeing the statement from the CEO of PayPal, there is a possibility the company will be involved in the preparation of possible plans in America.
sumber: coinvestasi.com
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