PayPal-Backed Identity Platform Acquired by Nevada’s Blockchains LLC
An identity management provider backed by PayPal, Foxconn and others has been acquired by Nevada-based holding company Blockchains LLC.
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Paypal is reportedly working on a stablecoin backed by the U.S. dollar to expand its cryptocurrency offerings. “We will, of course, work closely with relevant regulators,” the company stressed. Paypal Is Exploring Launching Its Own USD-Backed Stablecoin Paypal Holdings Inc. is reportedly exploring the launch of its own stablecoin backed by the U.S. dollar as part of the company’s cryptocurrency push, Bloomberg reported Friday. Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at Paypal, confirmed to the publication: We are exploring a....
Tech giant Microsoft has partnered with startups Blockstack Labs and ConsenSys to build an open-source identity platform aimed at integrating the bitcoin and Ethereum blockchains. The project seeks to build a platform for cross-blockchain identity across multiple distributed systems. An early version of the identity solution is expected to be available by the end of this summer. In a blog post published today, Microsoft global business strategist York Rhodes wrote that in the coming weeks Microsoft will launch an open source framework on Azure, where developers can build their own identity....
Blockchain technology has won accolades for improving efficiency and transparency in business operations. It has also been seen as improving security. But blockchain security is a complex issue that pits anonymity against trust, according to IBM’s Security Intelligence, a thought leadership and technical expertise hub for executives who manage enterprise risk and security. Permissionless blockchains such as bitcoin’s do not require identity information from their participants. The bitcoin blockchain achieves trust through encryption. After each transaction, the cryptographic operation....
After more than a decade of being part of eBay Inc. , PayPal will return to the stock market as an individual company. Shares of PayPal (PYPL.O) jumped up 11% in value as people anticipate the company’s return to NASDAQ. With that rise, and adjusting for market stabilization, PayPal is now valued at about $52 Billion. Online payments have changed considerably since 2002 when eBay acquired PayPal, and the popularity of PayPal has lead to a relationship that hinders the potential of PayPal. Processing over $235 billion in 2014, PayPal handles some massive transaction volume on a daily basis,....
Paypal has begun letting users transfer cryptocurrencies between its platform and other wallets and exchanges. “This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform,” Paypal revealed.
Paypal Now Supports External Wallet Transfers
Payments giant Paypal finally allows users to transfer cryptocurrencies in and out of its platform. The company announced Tuesday:
We are thrilled to announce that starting today, Paypal supports the native transfer of....