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Moderator Dee  
#1 Posted : Thursday, November 05, 2020 4:50:41 PM(UTC)
Dee6977

Joined: 4/2/2016(UTC)
Posts: 2,362
PayPal has entered the cryptocurrency market, and recently announced a new service which will now allow customers to buy, hold and sell cryptocurrency directly from their PayPal account

Quote:
This is what PayPal had to say, "The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly," said Dan Schulman, president and CEO, PayPal. "Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange. We are eager to work with central banks and regulators around the world to offer our support, and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce."


PayPal has also been granted a first-of-its-kind conditional Bitlicense by the New York State Department of Financial Services (NYDFS)

Quote:
"NYDFS' approval today follows our June 2020 announcement for a new framework for a conditional Bitlicense to encourage, promote, and assist interested institutions to have a well-regulated way to access the New York virtual currency marketplace in a way that is both timely and protective of New York consumers, through partnerships with New York authorized virtual currency firms," said Linda A. Lacewell, superintendent, NYDFS


(Source: PayPal)

Related links:
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