In the recent weeks, a certain announcement has lit an enormous amount of excitement in the finance industry. The finance giant behind this excitement is none other than PayPal. PayPal recently announced that it will be integrating cryptocurrency technology to its platform.
With this, the payments giant has confirmed that it is ready to enter the cryptocurrency market. Following to its initial announcement, PayPal confirmed when it will start rolling out its crypto-integration. So far, the company has confirmed that the integration will start taking place from the beginning of the year 2021.
When the rollout has been executed, the PayPal users will have access to the cryptocurrency platform. The users will be able to sales and purchase cryptocurrencies as well as use them to make online payments.
Although the rollout is set to take place in the beginning of the next year (2021), one person decided to make things interesting. Jeremy Allaire, the CEO and co-founder of the crypto payments firm ‘Circle’ teased with the entire PayPal users’ community.
Jeremy claimed that he has already used PayPal to purchase a cryptocurrency. The CEO shared a screenshot on his twitter account claiming that he purchased $100 worth of Bitcoin (BTC) through PayPal account. The screenshot clearly showed that the transaction actually went through and he was able to purchase Bitcoin (BTC) with it.
After tweeting about his recent pull at the PayPal platform, his twitter account was bombarded as to how he was able to do it. However, Jeremy did not clarify how was able to access the service even before it was rolled out.
After Jeremy’s tweet, the users also started questioning PayPal that how Jeremy was able to buy Bitcoin (BTC)? To which the PayPal officials stated that they had announced that the U.S.-based PayPal users will have access to the crypto-service over the course of time. The process had been initiated right after 21st of October, 2020.
As confirmed by PayPal, their platform will enable users to perform sale/purchase activities for major cryptocurrencies. At present, the major cryptocurrencies are Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH), and most importantly Bitcoin (BTC).