PayPal’s recent move to allow transfers out of the firm’s cryptocurrency walled garden is the opening step from a fiat-orientated world to a digital currency one, according to the fintech giant’s CEO Dan Schulman. IanAllison123 reports
in Austin, Tex. by PayPal crypto lead Jose Fernandez da Ponte, said that his firm is playing a long game with crypto.
“We will instantaneously take your crypto and translate it in to fiat, and you will be able to use that in any one of our 35 million merchant accounts, so we are trying to add functionality,” Schulman said. “But what we just did with transfers, is kind of like the opening step as you might think about us moving from a fiat-orientated world to a digital currency one.”Robinhood
“Let’s assume there’s 100 million crypto users. The PayPal network that has hundreds of millions of consumers and millions of merchants was related but separated. We built a bridge between this fiat universe and this crypto universe. And the value of those two networks combined is going to be so much higher,” da Ponte said.
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