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Cryptocurrency

Paypal Makes Stunning Announcement About Bitcoin

Paypal Makes Stunning Announcement About Bitcoin

  • PayPal CEO Dan Schulman has disclosed that the payment company is set to launch Bitcoin buying and selling to customers in the UK
  • During the company’s Q2 earnings call on Wednesday, the president disclosed that service could come as soon as August
  • The launch of this service will likely increase exposure to the cryptocurrency

PayPal CEO and president Dan Schulman has disclosed that the company is set to expand its cryptocurrency services.

PayPal

While speaking during the Q2 earnings call on Wednesday, Schulman revealed that Bitcoin buy and sell services could be launched in the UK as soon as next month.

This has been a long time coming after the company announced plans to introduce this service in February.

PayPal CEO Dan Schulman

According to the CEO, the company would add buy and sell functionality to Venmo crypto services and once it is launched in the UK, users can access it.

“We’re also seeing strong adoption and trading of crypto on Venmo. In this quarter, we expanded the Venmo value proposition to allow merchants and consumers to pay for goods and services and receive buyer and seller protections for commerce transactions.”

The company’s CEO also told users to look forward to an updated product called “super app”.

This product will offer customers access to high-yield savings, bill payment services, funds deposits and crypto services.

Read also: Amazon’s Latest Cryptocurrency Announcement Will Hurt Bitcoin

Meanwhile, flagship cryptocurrency Bitcoin is trading at $39,700, with a market cap of $746 billion.

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