World Economic Forum

WEF 2022: PayPal Set to Embrace Every Available Blockchain and Crypto Service

PayPal is looking forward to integrating cryptos and blockchains into its platform, says Richard Nash, the company’s vice president. 

PayPal, the global payment behemoth, is working extra hard to bring every possible blockchain and crypto integration to its platform.

PayPal to Expand Its Crypto Services Outside United States

The company targets to support all digital services, including cryptos and central bank digital currencies (CBDC), said Vice president Richard Nash during the World Economic Forum on 23rd May 2022. 

After unveiling its buy, hold, and sell service for Bitcoins (BTC) in the United States in 2020, PayPal is now expanding the offer to other parts of the country. 

“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,” explained Nash. 

Nash also hinted that he also owns cryptos, which aligns with his position in the company. “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,” Nash answered when asked whether he holds any crypto. 

In November 2019, PayPal CEO Dan Schulman indicated that the only crypto he held was Bitcoin.

PayPal is among the top payment companies to have shifted into cryptos and blockchain in the recent past. Apart from introducing BTC buy and sell options in select countries, PayPal also indicated its own crypto check-out service in March last year. The feature was designed to support crypto payments for merchants. 

PayPal has also reported considering its own stablecoin, PayPal Coin

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