It is reported that PayPal, the payment giant, plans to offer a cryptocurrency trading service, and this offer may be available within three months.
It is reported that the financial technology giant PayPal plans to offer cryptocurrency trading services directly to 325 million users.
According to the news that CoinDesk is based on knowing resources, the company will offer this service through both PayPal and its subsidiary Venmo. Users will also be able to store their cryptocurrencies on these platforms.
While PayPal is expected to work with multiple exchanges for its liquidity source, it remains unclear which cryptocurrencies will be available at the moment.
It is stated that the feature will be available in the next three months or earlier.
PayPal declined to comment on the plans.
It is noted that the payment giant can work with Coinbase for such a service. There is a long-standing business relationship between PayPal and Coinbase, dating back to 2016. In 2018, Coinbase integrated PayPal for instant withdrawals for US users.
PayPal’s current CEO, Daniel Schulman, is a person who is closely interested in cryptocurrencies. Schulman said he bought Bitcoin last year. The company’s co-founder, Peter Thiel, strongly believes in the future of cryptocurrencies, especially Bitcoin.