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PayPal Pays More Attention to Cryptocurrencies Now

26 October 2020, 16:53
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The global payment giant PayPal is making more and more steps concerning its attitude to cryptocurrencies. It has terminated its cooperation with Epik due to the latter's suspicious activity concerning digital assets. At the same time, PayPal is looking to buy some crypto assets platform or even launch its own cryptocurrency.

PayPal Pays More Attention to Cryptocurrencies Now

According to the latest cryptocurrency news, PayPal is rather active concerning digital assets. Login Casino has earlier informed about the cooperation of PayPal with a Japan-based crypto-exchange platform BitFlyer, which will help the latter's clients use flexible PayPal tools to withdraw money. Now the global payment platform makes even more steps to ensure its crypto presence in the digital payments market.

Why did PayPal terminate the cooperation with Epik?

Epik is one of the world's popular domain registrars that has used PayPal for providing payment transactions. However, PayPal has defined that Masterbucks, which is a crypto coin used for purchases on Epik, is rather suspicious and lacks a legal basement to be traded. After a series of letters between the companies, they decided to terminate the deal. Even though some experts see this PayPal's step as a political one, the digital payment platform seems to clarify its crypto-related activity and exclude suspicious transactions.

The further PayPal's steps concerning cryptocurrencies

Some experts expected that PayPal would buy one of the crypto exchange platforms. BitGo is a target, but it isn't confirmed yet. That is a part of the strategy to trade Bitcoin SV and Ethereum in the following year, which can be much easily realized with the availability of its own exchange platform. However, it won't be a surprise if PayPal announces another deal related to buying a crypto exchange or digital assets platform.

Some experts assumed that PayPal could launch its own cryptocurrency. Many of them say that the regarded platform is targeted on the crypto market and related client base. Launching an own token can open even wider opportunities for PayPal and allow it to join the global digital assets exchange community and blockchain usage practices.

Read moreEthereum vs. Bitcoin SV: which token is better?

Read more: Why are blockchain stocks an interesting aim for investments?

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