May 15, 2021

PayPal to build its cryptocurrency service based on the Paxos brokerage solution

PayPal to build its cryptocurrency service based on the Paxos brokerage solution

The largest electronic payment system PayPal plans to supply cryptocurrency for its new service through the Paxos brokerage solution.

According to CoinDesk, the fintech giant willLeverage Paxos Crypto Brokerage, a recently launched API-based solution that helps companies integrate digital asset services into their operations, making it easy to buy, sell, store and send cryptocurrencies in compliance with all regulations.

A person familiar with the matter also told reporters that PayPal could officially announce cooperation in the near futuretime. Earlier, the payment system has already announced that it will offer its customers a new service through which platform users will be able to freely buy and sell cryptocurrency. However, the launch date and the list of supported assets were not announced.

Although the new product will open to 325 millionPayPal users have direct access to digital assets and will help popularize them, but it will not be something new to the market. In fact, the company is now catching up with a number of major platforms offering similar services since 2018.

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