WEF 2022: PayPal looks to embrace all possible crypto and blockchain services

Global payment giant PayPal is doing its best to bring all possible blockchain and cryptocurrency integrations to its services, according to a senior executive at the firm.

PayPal is working hard on supporting all possible digital services, including digital currencies and central bank digital currencies (CBDC), vice president Richard Nash said in an exclusive statement to Cointelegraph at the World Economic Forum on May 23.

After rolling out its buy, hold and sell service for Bitcoin (BTC) across the United States 2020, PayPal continues to expand its digital currency-related offering, Nash noted:

“Just walking slowly in the crypto shield with buys or holds in certain jurisdictions. [...] Looking to work with others to embrace everything we can, whether it’d be the coins that we have today in PayPal digital wallets, private digital currencies or CBDCs in the future.”

Nash also hinted that he is a cryptocurrency owner, which perfectly aligns with his position at PayPal. When asked whether he holds any crypto himself, the VP answered "I have a lot of things that I’m working on at PayPal and I like to experience services myself so I think that’s natural."

As previously reported by Cointelegraph, PayPal CEO Dan Schulman disclosed that Bitcoin is the only cryptocurrency he held as of November 2019.

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PayPal is one of the world’s largest payment companies that moved into crypto and blockchain in recent years. Apart from introducing BTC buy and sell options in certain countries, PayPal also announced its own crypto check-out service in March 2021 to allow crypto payments for merchants. The firm is reportedly also considering launching its own stablecoin named PayPal Coin.