PayPal no longer needs any introduction in the cryptocurrency sector after its great contribution in the year 2020. PayPal first made its entry into the crypto-verse with a big announcement. It revealed that it had integrated Bitcoin, Ether, and other major cryptocurrencies into its platform. With the integration, PayPal announced that the users could buy and sell these cryptocurrencies.
Mainstream Exposure due to PayPal’s Input
Furthermore, PayPal even had an active user base of 334 million, which could also gain exposure to cryptocurrencies. From there, cryptocurrencies started gaining huge success and adoption.
The great contribution of PayPal led to the huge surge in the trading prices of all major and minor cryptocurrencies. From September 2020 until the mid of 2021, PayPal kept making announcements related to cryptocurrencies.
It was due to PayPal’s great contribution the cryptocurrency sector crossed the $2 trillion overall valuation mark. The major cryptocurrencies ended up hitting their all-time highs.
PayPal Makes Comes in To Save the Day
If you thought that it was a one-time move by PayPal, then you are about to be shocked. According to the latest updates, PayPal is planning to go above and beyond any other mainstream and online payment platform.
It is being discussed that PayPal is in the process of bringing all possible cryptocurrencies with their blockchain networks onboard. PayPal has also benefitted a lot from the industry, which is why it is eager to increase its benefits. In the process, PayPal will eventually help the entire cryptocurrency sector regain its mid-2021 reputation.
PayPal is Going All Out This Time
Richard Nash, the vice president at PayPal has announced what the digital payment giant is planning to do. As per Nash, PayPal wants to bring all the CBDCs, digital currencies, and digital services onboard.
He added that PayPal has benefited a lot from offering its users the ability to buy and sell Bitcoin and other major cryptocurrencies. It has retained its presence in the online payments sector as one of the largest entities. It wants to achieve the same in the cryptocurrency and the CBDC sector.
How PayPal Works in Favor of Major Cryptocurrencies
During harsh and difficult times, when people grow concerned about the future of something, they want reassurance. If these reassurances come from companies with major influence and reputation within the sector, then they are taken as prophecies.
With PayPal’s announcement, the confidence and faith of people in cryptocurrencies will definitely be rejuvenated.
At present, Bitcoin’s price is at $29174.83, Ether stands at $1,981.52, while other cryptocurrencies are also in the same boat. When PayPal makes an official announcement, BTC and ETH including the entire cryptocurrency sector will definitely receive a huge boost.