PayPal intends to extend the expansion of crypto services

The company has published its results for the third quarter

10.11.2021 - 15:00

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What’s new? The international payment service PayPal has presented the results of the company's activities in the third quarter. The total revenue of the platform increased by 13% to $6,18 billion. As for the crypto sector, the company did not publish specific indicators. However, its management confirmed that it intends to continue its expansion in this segment.

Link to the company's report

How did PayPal crypto services develop? In October 2020, the system provided US customers with the ability to buy, sell and store cryptocurrencies on the platform. With the launch of this feature in January 2021, the daily volume of transactions with virtual assets on the platform has updated to the maximum, reaching almost $250 million.

In July, rumors emerged that PayPal was negotiating a possible partnership with Uniswap. And since autumn, UK users have had access to some of the company's crypto services.

What did PayPal’s CEO say? According to the service's head Dan Schulman, payments in digital currencies will become mainstream in the near future. He added that crypto services are very popular among platform users.

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