Originally released On: 19 NOV 2021 via Cryptonomist (Link below)
PayPal enables crypto payments for the world.
It finally happened, PayPal announced that it had enabled the rest of the world to use its ‘Checkout With Crypto’ service.
This means that approximately 29 million merchants worldwide who accept PayPal as a means of payment now have the faculty to accept cryptocurrencies.
For now, payments can only be made with the four main cryptocurrencies, namely Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
Dan Schulman, president and CEO of PayPal, had said.
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your Paypal wallet”.
“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly”.
“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange. We are eager to work with central banks and regulators around the world to offer our support, and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce”