One of the latest exciting pieces of news includes PayPal.
PayPal may change its stance on crypto
Paypal’s position regarding the digital currency might be changing soon as the CFO John Rainey has stated that the payment processor created teams to study blockchain and crypto, according to the latest reports coming from Forbes.
Previously, PayPal allowed merchants to receive payments in BTC, but it removed this feature after the volatility became stronger.
He addressed the immaturity of the network as the main reason.
But on the other hand, PayPal has admitted the fact that the idea and the tech behind the blockchain tech are extremely fascinating and said that they are currently developing active solutions on the blockchain.
PayPal is still skeptical about BTC, but they have assembled a team to take on crypto in harmony with the blockchain, according to the same magazine mentioned above.
John Rainey was quoted explaining the situation and why PayPal is still uncertain about Bitcoin:
“We have teams working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form it takes up in the future – I think it’s just a little early on right now (for Bitcoin). If a merchant adopted Bitcoin, they would quickly convert it to a more stable currency like the Euro or Dollar.”