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PayPal Might be Developing its Crypto Capabilities, Letter Shows

Yi Yang

Summary: PayPal’s letter to the European Commission seems to substantiate the rumor that it is developing its crypto capabilities. Addressed to the commission on March 20, the letter was originally a response to the EU framework on the market of crypto-assets. PayPal acknowledges in the letter that it’s “continuously monitoring and evaluating global developments in the ...

PayPal’s letter to the European Commission seems to substantiate the rumor that it is developing its crypto capabilities.

Addressed to the commission on March 20, the letter was originally a response to the EU framework on the market of crypto-assets. PayPal acknowledges in the letter that it’s “continuously monitoring and evaluating global developments in the crypto and blockchain/distributed ledger space”.  

Emphasizing the role crypto assets play in democratizing financial services, PayPal says it would support compatible approach to regulation and licensing across EU markets.

Yi Yang

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