PayPal Will Partner With Paxos To Launch Cryptocurrency Trading

Payment company PayPal plans to make cryptocurrency trading available to its customers and has selected Paxos as the digital asset delivery manager for the new service.

According to sources familiar with the situation, details of the cooperation between PayPal and Paxos will become known later this week. If the initiative is implemented, PayPal will become one of the most famous companies offering cryptocurrency trading.

It is not yet known which cryptocurrencies PayPal plans to offer its customers. In the second half of June , information appeared that the payment company and its mobile payment service Venmo intend to provide its 325 million users with the opportunity to directly purchase cryptocurrencies. 

In addition, it was reported that Coinbase or Bitstamp could become a partner of the company. PayPal said this month that it is exploring the cryptocurrency space and “is developing and deploying cryptocurrency capabilities.” The corresponding statement was made in a letter to the European Commission.

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