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Posted by: thepinetree on 10/21/2020 10:35 AM Updated by: thepinetree on 10/21/2020 10:35 AM
Expires: 01/01/2025 12:00 AM
:

PayPal Will Enable Cryptocurrency as Funding Source for Digital Commerce

San Jose, CA...The migration toward digital payments and digital representations of value continues to accelerate, driven by the COVID-19 pandemic and the increased interest in digital currencies from central banks and consumers. PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of a new service enA new service from PayPal allows its customers to buy, hold and sell cryptocurrency directly from their PayPal account."






Mainstream adoption of cryptocurrencies has traditionally been hindered by their limited utility as an instrument of exchange due to volatility, cost and speed to transact. However, the promise of advanced technological platforms offers the possibility of mainstreaming digital currencies. According to a survey by the Bank for International Settlements, one in 10 central banks – representing approximately one-fifth of the world's population – expect to issue their own digital currencies within the next three years.

"The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly," said Dan Schulman, president and CEO, PayPal. "Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange. We are eager to work with central banks and regulators around the world to offer our support, and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce."

Building Understanding and Adoption of Cryptocurrency

To increase consumer understanding and adoption of cryptocurrency, the company is introducing the ability to buy, hold and sell select cryptocurrencies, initially featuring Bitcoin, Ethereum, Bitcoin Cash and Litecoin, directly within the PayPal digital wallet. The service will be available to PayPal accountholders in the U.S. in the coming weeks. The company plans to expand the features to Venmo and select international markets in the first half of 2021. The service is enabled in the U.S. through a partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services.

PayPal has also been granted a first-of-its-kind conditional Bitlicense by the New York State Department of Financial Services (NYDFS).

"NYDFS' approval today follows our June 2020 announcement for a new framework for a conditional Bitlicense to encourage, promote, and assist interested institutions to have a well-regulated way to access the New York virtual currency marketplace in a way that is both timely and protective of New York consumers, through partnerships with New York authorized virtual currency firms," said Linda A. Lacewell, superintendent, NYDFS. "NYDFS will continue to encourage and support financial service providers to operate, grow, remain and expand in New York and work with innovators to enable them to germinate and test their ideas, for a dynamic and forward looking financial services sector, especially as we work to build New York back better in the midst of this pandemic."

As part of this offering, PayPal will provide accountholders with educational content to help them understand the cryptocurrency ecosystem, the risks and opportunities related to investing in cryptocurrency, and information on blockchain technology. There are no service fees when buying or selling cryptocurrency through December 31, 2020, and there are no fees for holding cryptocurrency in a PayPal account.

Increasing the Utility of Cryptocurrency in Digital Commerce

Beginning in early 2021, PayPal customers will be able to use their cryptocurrency holdings as a funding source to pay at PayPal's 26 million merchants around the globe. Consumers will be able to instantly convert their selected cryptocurrency balance to fiat currency, with certainty of value and no incremental fees. PayPal merchants will have no additional integrations or fees, as all transactions will be settled with fiat currency at their current PayPal rates. In effect, cryptocurrency simply becomes another funding source inside the PayPal digital wallet, adding enhanced utility to cryptocurrency holders, while addressing previous concerns surrounding volatility, cost and speed of cryptocurrency-based transactions.

Exploring and Investing in the Next Generation of Financial Services Infrastructure

In addition to providing these significant cryptocurrency services, PayPal has been exploring the potential of digital currencies through partnerships with licensed and regulated cryptocurrency platforms and with central banks around the world. For the past five years, PayPal has increased its focus and resources on exploring the next generation of digital financial services infrastructure and enhancements to digital commerce through an internal blockchain-focused research team. In 2019, PayPal Ventures, the company's venture capital arm, invested in TRM Labs, a company focused on helping financial institutions prevent cryptocurrency fraud and financial crime, and Cambridge Blockchain, a blockchain-based identity management and compliance software company. PayPal will continue exploring the potential of distributed ledger technologies to improve financial services and assure they are faster, more secure and less expensive. The company intends to work hand-in-hand with regulators, governments and central banks in this quest.

To learn more and join the waitlist for PayPal's cryptocurrency services, click here.

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 300 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

Forward-Looking Statements
This announcement contains "forward-looking" statements within the meaning of applicable securities laws. Forward-looking statements and information relate to future events and future performance and reflect, among other things, PayPal's plans with respect to its cryptocurrency initiatives. Forward looking statements may be identified by words such as "seek", "believe", "plan", "estimate", "anticipate", "expect", "project", "forecast", or intend", and statements that an event or result "may"" "will", "should", "could", or "might" occur or be achieved and any other similar expressions.

Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made. More information about these and other factors can be found in PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the "SEC"), and its future filings with the SEC.

The forward-looking statements contained in this announcement speak only as of the date hereof.  PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.


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The comments are owned by the poster. We are not responsible for its content. We value free speech but remember this is a public forum and we hope that people would use common sense and decency. If you see an offensive comment please email us at news@thepinetree.net
No Subject
Posted on: 2020-10-21 14:21:35   By: Anonymous
 
Now, Obama is making speeches for joe Biden. Next week, I only hope Michele Obama does the same thing for Kamala Harris. Now, if one can’t figure that out, may god help you! Any democratic vote is for Kamala to be our president. If this is what you want, do it.

[Reply ]

    Re:
    Posted on: 2020-10-21 14:24:46   By: Anonymous
     
    So we’ll said! We all agree to disagree on some of what trump has said and done. Picking my poison, I’ll take Trump any day of the week!

    [Reply ]

      Re:
      Posted on: 2020-10-22 06:21:19   By: Anonymous
       
      Looks like 60 minutes wanted to edit Trump’s interview for Sunday night! He filmed it and walked out after 45 minutes. Media wanted to lie to the public, like always knowing liberals are stupid enough to believe a crooked interviewer. Hope he releases it for viewers before 60 minutes changes the story. No soap opera here. MAGA

      [Reply ]

        Re:
        Posted on: 2020-10-22 07:34:48   By: Anonymous
         
        Trump got some questions he didn’t like and he’s throwing a hissy fit.

        [Reply ]

      Re:
      Posted on: 2020-10-22 07:36:39   By: Anonymous
       
      I'd be glad to supply the poison for you.

      [Reply ]

    Re:
    Posted on: 2020-10-21 15:08:16   By: Anonymous
     
    Senator Harris would be a great president! I love that!

    [Reply ]

      Re:
      Posted on: 2020-10-21 15:54:20   By: Anonymous
       
      Other states do not think so. When your thinking is so far off from others can you realize you need to make some changes?

      [Reply ]

        Re:
        Posted on: 2020-10-21 18:29:36   By: Anonymous
         
        You're a moron. Once the dust has settled on Nov. 4, I'll be back to explain to the inbreds why Biden / Harris won the electoral college and popular vote.

        See ya in a fortnight:)

        [Reply ]

          Re:
          Posted on: 2020-10-21 19:00:21   By: Anonymous
           
          Once the dust has settled, you’re definitely a moron, sounds like you’ve been around the Hershey Hiway to long! Become honest, have a job, have good friends then, welcome to pine tree!!!

          [Reply ]

            Re:
            Posted on: 2020-10-21 20:14:50   By: Anonymous
             
            Shut the front door. You lil fella and woomen going find out old Bunker Sleepy Joe Hunter and Kameltoe. Has been cocked more times than John Wayne’s rifles.

            [Reply ]

    Who will we blame if Biden/ Harris lose?
    Posted on: 2020-10-21 15:09:59   By: Anonymous
     
    I'm serious here, who should take the hit?
    Do we blame Joe for not campaigning enough?
    Do we blame those responsible for picking Harris as his
    Do we blame his son for all the bad publicity lately?
    Do we blame all the democrats for not having a peaceful transition for Trump and his people?
    Do we blame Pelosi, Schiff, Schumer all those who kept saying Trump's a traitor, Russian Collusion/Agent, spying on his campaign?
    Do we blame Hillary for the above?
    Do we blame top Democrats for not trying to at least help Trump, our country and us?
    Do we blame Pelosi for always holding up a Stimulus Deal because there really are people starving?
    Do we blame the Democrats who before Trump, wanted a wall, and when he won the Democrats said we want Open Borders?
    Do we blame ourselves for picking the oldest person ever running for the presidency, we had a field of over Twenty Candidates, 20, to pick from, 20?
    Do we blame BLM and all the violence in our Democrat run cities that the mayor's and governor's have rarely tried to lay down the law? Cops have been attacked and shot at, they defend themselves, justified, and people still riot, like the officer can't defend themself.
    Do we blame all those of us who are going to far left, like this Alexandria Ocasio-Cortez and her close friends?
    We have a real good chance of losing this just like in 2016, and back then we didn't have the Media ignoring Trump. The Media interviewed him, showed his rallies, violence, the white supremacists, and now just show him in negative light but he keeps getting closer and closer. I turned on the radio to fox and they're running the numbers on what the votes back east are doing.
    So I'm just curious, who are you going to blame, how much of the above do you see in why the Numbers between them are now neck and neck?
    And today is the first day President Obama is going out to stump for Joe and Kamala.
    Wake up, it's not looking good at all, we should be running away with this especially with covid-19 and 220,000 deaths, yet Joe isn't out there campaigning. He campaigned one day out of the last six, wtf is with that? WTF is going on? There is something seriously wrong with this whole scenario.



    [Reply ]

      Re: Who will we blame if Biden/ Harris lose?
      Posted on: 2020-10-21 15:26:35   By: Anonymous
       
      Above comment, very good. The light is shining bright on what is presented by Biden and Harris. People, this is a no brainer, even if we hate Trump! Yes, the numbers have changed and like most of us know, landslide for Trump. Gotta have faith and go with the flow.

      [Reply ]

        Re: Who will we blame if Biden/ Harris lose?
        Posted on: 2020-10-21 18:34:11   By: Anonymous
         
        Landslide for tRump? How stupid can you be?
        That retard couldn't even win the popular vote. Any president worth their salt wins both the electoral college vote and popular vote. Shrub's 2nd election and dump both FAILED to win the popular vote.
        The electoral college is the only thing keeping republicant pres candidates in the hunt. And even that mathematical luxury will soon be gone.

        [Reply ]

        Re: Who will we blame if Biden/ Harris lose?
        Posted on: 2020-10-21 21:01:43   By: Anonymous
         
        Yeah, u be going "with the flow" on November 6th or so. Flushed like a turd, right into the septic tank. Go with the flow Trumpsster. HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA

        [Reply ]

      Re: Who will we blame if Biden/ Harris lose?
      Posted on: 2020-10-21 15:47:34   By: Anonymous
       
      You forgot that Bernie would have probably won the first time, but you burnt Bernie. That fact alone, the clear view of corruption, alienated the hopeful young Americans that had bought on and worked hard for you. You just threw away the progress that was made in bringing young Americans into the political process.

      [Reply ]

    Re:
    Posted on: 2020-10-21 16:41:37   By: Anonymous
     
    Oops, Trump just put a punch on “60” minutes interview and fake news fake media is a wake up call for Americans! The s__t done hit the fan! All the B/S is a wake up call. Politicans have and still are stealing from al us (dummies.) aren’t any of you tired of that??????

    [Reply ]

No Subject
Posted on: 2020-10-21 15:29:53   By: Anonymous
 
What took Obama this long to help out Joe and Kamala? Mothefuker didn't even endorse Joe until Joe was the last guy. What an ass, for waiting so long, doesn't he know what's at stake? I already mailed my ballot in. I want that Free *bleep*, if illegals get free education we should too. If they get free housing or help with it we should too. And where in the fukis that stinulus check? Only got one, must be a fuking Trump thing not wanting us to eat and drink. Be

[Reply ]

    Re:
    Posted on: 2020-10-21 15:44:54   By: Anonymous
     
    My goodness, how mean can one be? If you need free food and free housing, you don’t belong on a computer? Starting November 4th, better clean up your act, get of drugs and, get a job! Case closed, go Trump!!!!!!

    [Reply ]

      Re:
      Posted on: 2020-10-22 07:37:58   By: Anonymous
       
      STFU SRS

      [Reply ]

    Re:
    Posted on: 2020-10-21 15:52:39   By: Anonymous
     
    It looks very bad and is seldom done. Past presidents have had their time and should stay out of it. The whole thing stinks of desperate corruption again. So very, very sick and sad what you have said here. There are jobs, get one!

    [Reply ]

      Re:
      Posted on: 2020-10-21 16:11:56   By: Anonymous
       
      Notice these comments are starting to make some since. Lol

      [Reply ]

        Re:
        Posted on: 2020-10-21 16:15:37   By: Anonymous
         
        Oh yeah, put their own foot in their own mouth. Just what they need! Gonna get much worse between now and Election Day. Can’t tell these “dead heads” anything.

        [Reply ]

          Re:
          Posted on: 2020-10-21 18:41:23   By: Anonymous
           
          Once the dust has settled, you’re definitely a moron, sounds like you’ve been around the Hershey Hiway to long! Become honest, have a job, have good friends then, welcome to pine tree!!!

          [Reply ]

            Re:
            Posted on: 2020-10-21 21:04:00   By: Anonymous
             
            Hey! All you Trumpanzees getting all over Barry for campaigning. How come no Republican past presidents are endorsing the orange anus?

            [Reply ]

              Re:
              Posted on: 2020-10-21 21:46:17   By: Anonymous
               
              Obama at event for Biden: “can you imagine if I had a secret Chinese bank account? ... They’d call me Beijing Barry.”

              [Reply ]

                Re:
                Posted on: 2020-10-21 22:29:51   By: Anonymous
                 
                Berry like the fruit cake. How is Mike doing Barry? Put a lid on it Bunker Joe. Best thing Kamel-toe should have done you gullible left nuts.

                [Reply ]

                  Re:
                  Posted on: 2020-10-22 07:39:24   By: Anonymous
                   
                  ^^You also should have studied english a touch more.

                  [Reply ]

No Subject
Posted on: 2020-10-21 23:55:07   By: Anonymous
 
Love reading all the anti Obama/Kamala/Biden comments! Way to stay on topic ya clowns! Do you dumb fuqs even understand the concept of Cryptocurrency? What about the significance of this story? Who am I kidding, of course you don’t. Stay in your dumb cult and keep drinking that orange koolaid ya twats!

[Reply ]

    Re:
    Posted on: 2020-10-22 00:53:24   By: Anonymous
     
    You are the imbecile. Bitcoin is a pyramid scheme, a scam. Feel free to gamble and throw your money away. Just don't expect us to give you everything free after you have thrown your money away playing gambling games.

    [Reply ]

      Re:
      Posted on: 2020-10-22 07:41:06   By: Anonymous
       
      HOW 'BOUT THEM COWBOYS!!!!!!!!!! Maybe they could schedule the bullfrogs?

      [Reply ]

      Re:
      Posted on: 2020-10-22 08:05:11   By: Anonymous
       
      They didn’t even say their opinion on cryptocurrency and you’re calling them an “imbecile” for a hypothetical opinion you just made up in your head? How f’ing out of touch are you?

      [Reply ]

        Re:
        Posted on: 2020-10-22 08:06:20   By: Anonymous
         
        Hahaha, was thinking the same thing! Gotta be a Trumper with that logic.

        [Reply ]

          Re:
          Posted on: 2020-10-22 10:53:48   By: Anonymous
           
          Thank you pypl for $$$$$!

          [Reply ]


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