“Cryptocurrencies are very important for the future of finance beyond their price”, says CEO of PayPal – DiarioBitcoin

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"Cryptocurrencies are very important for the future of finance beyond their price", says CEO of PayPal - DiarioBitcoin By Angel Di Matteo @shadowargel

For Dan Schulman, CEO of PayPal, the discussion should not focus on the price of cryptocurrencies, but on the technological contribution that these and blockchain will bring to the financial sector in general.

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Dan Schulman, CEO of PayPal, spoke again in favor of Bitcoin, cryptocurrencies and blockchain, highlighting the benefits of these technologies for the financial sector beyond the listing of the main exponents in the markets.

CEO of PayPal praises the benefits of cryptocurrencies and technology blockchain

This was revealed by Schulman during an interview for the media CTech within the framework of the event Axis Tel Aviv, where the manager ruled out the importance in the price of the main cryptocurrencies and praised the usefulness of these assets in terms of payments.

In this regard, Schulman commented:

“I am very excited about what crypto and digital ledger technology can do for the financial system in the future. I think the initial things that everyone thinks about crypto, buying and selling it, and what the price of Bitcoin will be tomorrow, that’s the least interesting part about digital currencies for me. That’s thinking of digital currencies as an asset class. For me, the really exciting thing about digital currencies is what kind of utility they can provide in payments.”

According to Schulman, the benefits of cryptocurrencies and technology blockchain they will revolutionize the way in which traditional finances are conceived, something that is part of what many describe as the evolution of money in light of the new times. The director of PayPal took advantage of the space to expand the panorama a little more, and also shared his opinion on the fact that governments issue their own digital currencies (CBDC), to which he commented:

“The intersection between CBDC, stablecoins, digital wallets, and the enhanced utility of cryptocurrency payments is not only fascinating, but one that I think will redefine much of the financial world going forward.”

PayPal and cryptocurrencies

Although Schulman personally speaks in favor of cryptocurrencies, this also seems to be the perspective of PayPal, since the company has also been paving the way for its users to make use of these assets through its products and services.

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Let’s keep in mind that since October 2020 PayPal officially integrated the possibility of exchanging fiat money for Bitcoin and other cryptocurrencies from its platform, a property that is currently only available to clients in the US and the UK while the company explores taking this to other markets.

The latter also has small print, as users cannot deposit or withdraw crypto funds from their accounts. PayPal. In this regard, the company indicated that it is among the plans to enable this possibility in the not too distant future, also highlighting that they have contemplated adding support for other assets, among which possible collaborations with central banks and companies duly registered in certain legislations stand out.

As of today, PayPal allows customers to exchange fiat funds for Bitcoin, Bitcoin Cash, Ether and Litecoin.


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Source: Calcalistech, Finbold

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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