PayPal to offer crypto payments for merchants, limited trading on Venmo
After their limited crypto trading service "exceeded expectations," the company will double down on crypto, blockchain, and digital currencies in 2021 After a limited buy/sell/hold crypto trading launch that "exceeded expectations," PayPal CEO Dan Schulman said on the company's Q4 earnings call today that the payments giant is ready to double down on cryptocurrencies. “We also saw an exceptional response from our crypto launch,” said PayPal CEO Dan Schulman. “[...] The volume of crypto traded on our platform greatly exceeded our expectations.”Schulman said that crypto would be accepted “as....
Related News
The global payments platform wants to let British customers trade crypto on its new “super app”. Global payments platform PayPal is looking towards the United Kingdom as the next market in which to expand its crypto trading services.According to the company’s second-quarter earnings call on Wednesday, PayPal has done very well out of crypto trading for the period. CEO Dan Schulman stated that the U.K. is likely to be the next country where crypto trading is offered.“Yeah, well, we continue to be really pleased with the momentum we're seeing on crypto. […] We're going to launch, hopefully,....
Venmo is following in the footsteps of its rival, Square’s Cash App, by introducing cryptocurrency trading. Payments app Square made headlines — and dollars — when it integrated Bitcoin trading into its mobile platform back during the crypto bull market of winter 2017. Now, rival payments firm Venmo, owned by PayPal, is following suit by launching cryptocurrency trading for four major coins: Bitcoin (BTC), Ether (ETH), Litceoin (LTC) and Bitcoin Cash (BCH).Beginning on Tuesday and set to be widely available within the new few weeks, Venmo’s 70 million+ customers will be able to buy, hold....
The series C funding round was led by existing investors Tencent and Accel. French crypto-friendly fintech startup Lydia has raised $100 million in a series C funding round, as per a report in TechCrunch. The latest capital raise reportedly helped Lydia attain unicorn status with a valuation of over $1 billion. The $100 million fundraise comes nearly a year after its series B funding round of $86 million in December 2020.The round was led by existing investors Tencent and Accel and also saw participation from Dragoneer and Echo Street. The fintech startup aims to use the fresh capital to....
Venmo has announced the rollout of its “crypto on Venmo” service, allowing over 70 million users to buy, sell, and hold four types of cryptocurrencies, including bitcoin, using the popular Venmo app. Venmo’s new crypto service further shows Paypal’s commitment to the crypto space, the company detailed. Venmo Launches Crypto Service Venmo, a service by Paypal, announced Tuesday the launch of “crypto on Venmo,” which it described as “a new way for Venmo’s more than 70 million customers to buy, hold and sell cryptocurrency directly within the....
In a long SEC filing from today, PayPal states that its merchants can now begin accepting Bitcoin. As the original text to the filing reads: A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to invest in new or specialized hardware. Our Payments Platform supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and....