PayPal is empowerment for transactions with bitcoin and other cryptocurrencies. At the beginning of March 2020 experts from PayPal and told them about his part in the development of new software associated with scriptactive. Now the company will introduce new technologies to the market. For the first time such thoughts came in the summer of 2019, when the public became about the launch of a new cryptocurrency from Facebook - Libra.
It should be noted that PayPal was one of the developers of a new cryptocurrency, but by the fall on Facebook fell accusations from the government that led to the failure of the system to participate in the development of the project. After the project has left such well-known payment systems as Visa and Mastercard.
At the end of 2019, the European Commission initiated a number of activities, the purpose of which was to obtain advice on a framework for scriptaction to make them more affordable for most people. Of course, PayPal have similar opinions, so as soon as the blockchain technology experts will make financial services more reliable by eliminating a number of problems of different nature.
The regulation of cryptocurrencies will contribute to the transparency of the system, providing users with complete privacy and protection from data leaks that prostimulirujte a significant amount for the industry. To implement the planned you need to receive input from the European Commission, by which it will be possible to protect investors or other clients. In addition, PayPal has proposed to include transactions with digital currencies in the world policy of KYS.
For those who do not know, we recall that the Luxembourg company has a special license for conducting payment operations and other banking facilities to enable it to provide service to 100 million customers in the European Union. PayPal conducts transactions with cryptocurrencies in 2014, as the previously traded with such cryptocurrency exchanges like Coinbase and SatoshiPay, which allowed the company to accept payments in the digital currency.
In early June, 2020 it was announced that PayPal and its mobile service for conducting transactions with cryptocurrencies Venmo, will soon expand its powers, which will allow users to buy or sell digital money without losing funds on a percentage of transaction.