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PayPal CEO: Only 10% of Clients Have Access to Crypto Services, There’s a Waiting List

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  • PayPal CEO Daniel Schulman said that the large online payment processor will add numerous new cryptocurrency-related features at the start of next year.
  • In the most recent earnings call reported by Fortune, Schulman noted that the platform will enable crypto payments for goods and services at 28 million merchants. He reassured that it will not result in any “incremental fees for either consumers or merchants.”
  • PayPal’s mobile payment service app Venmo, will also support digital asset purchases.
  • Schulman, who previously said that he owns bitcoins, asserted that only 10% of PayPal clients have access to the cryptocurrency services. There’s a waiting list, which “was two or three times as great as what the company anticipated.” More users will gain access in the following few weeks.
  • PayPal CEO also commented that his company is in “close talks” with central banks and regulators to explore cryptocurrency wallets for its users. He believes that “digital wallets are a natural complement to all forms of digital currency.”
  • CryptoPotato reported in mid-October that the giant online payment processor plans to introduce cryptocurrencies to its over 300 million users. Since then, the attention has only risen, which led to the price appreciation of Bitcoin and other digital assets. 

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