Sandi Bragar, managing director of investment management firm Aspiriant, explained that PayPal is working to get sellers to adopt cryptocurrencies. In the past months, it was learned that the payment giant is in preparation to offer crypto currency trading services.
Sandi Bragar, managing director of investment management firm Aspiriant, said in the post on CNBC that payments giant PayPal is working with vendors to adopt cryptocurrencies.
Bragar said PayPal’s openness to cryptocurrency is one of the reasons Aspiriant sees it as a viable stock for investors. Bragar stated that another reason is the effect of the coronavirus pandemic on trade. According to Bragar, people staying at home have created a huge demand for e-commerce and digital payments, and will continue when the epidemic ends.
“We are pleased that PayPal is working with sellers to drive cryptocurrency acceptance, and we think this will be really important as cryptocurrencies become more common in the coming years,” the investment manager continued. He spoke in the form.
In June, there were reports that PayPal would begin offering cryptocurrency trading services within a few months. It was later revealed that the payment giant wrote a letter to the European Commission in March, informing that it would make moves in the cryptocurrency space. Finally, in July, it was alleged that the company partnered with Paxos to provide cryptocurrency services.
PayPal has more than 300 million users worldwide today. Considering that the number of cryptocurrency users is in the range of 50-60 million at most, the importance of PayPal’s cryptocurrency step can be better understood.