PayPal will enable cryptocurrency payments, Aspiriant manager told CNBC

The manager of an investment company told CNBC that PayPal is actively working on the deployment of cryptocurrencies within its platform.


In an interview in the program Squawk Box de la CNBC, Sandi Bragar, managing director of the investment management company Aspiriant, hinted that PayPal is working on the deployment of cryptocurrencies on its platform.

It is at the forefront of all e-commerce and digital payments… we also like that PayPal is working with merchants to incorporate crypto, ”said Aspiriant’s Sandi Bragar at $ PYPL.

Bragar revealed that the gigantic company Fintech is currently working to make it possible for merchants (sellers and stores) to accept cryptocurrencies as a payment method.

He said that as the use of cryptocurrencies by the mainstream masses increases, the effort of PayPal it is going to be significantly vital in spearheading this process. As more people become interested in cryptocurrencies, adoption grows, and so does the number of merchants interested in accepting payments with this tool. PayPal has stepped in to facilitate crypto integration in online businesses.

Bragar stated that this makes the company’s shares more attractive to investors. He mentioned precisely that the opening of PayPal to crypto is one reason why Aspiriant he sees it as a favorable stock for investors. The other reason is the impact of the COVID-19 pandemic on trade. Added:

“It is at the forefront of all e-commerce and digital payments, and we think there has been a high demand as people have stayed home, trading from their sofa, from their beds, wherever they are passing the time. little while. And we think that’s going to continue as we get through this pandemic, ultimately as people get out there and move more and start resuming more normal lives.“.

Charge customers in Bitcoin it can be beneficial to business in a number of ways. First, accepting credit card payments can be expensive, with payment processors and banks typically taking a 3-5% cut. Cryptocurrencies can reduce these fees to less than 1%, most of the time.

Additionally, receiving cryptocurrency payments can also greatly streamline international transactions and minimize commissions, which is ideal for merchants.

Many of the major companies have been studying the prospects for crypto assets and therefore venturing into the industry. While the social media giant Facebook has given an example with his project Libra, Several other major companies have also been interested in making use of cryptocurrencies.

PayPal It was the last company to announce its intention to offer the sale and purchase of cryptocurrencies. In his letter to the European Commission in March 2020, The payments giant confirmed that it is actively working to bring crypto capabilities to its platform.

In addition, in July of this year a report came to light according to which PayPal intended to announce a partnership with the trust company New York-based Paxos to manage the supply of crypto assets once crypto services were launched. Paxos not only is it the main issuer of stablecoins regulated, but also the financial company legally authorized to maintain Ethereum and Bitcoin on behalf of institutional investors.

Aspiriant is a company that specializes in investment management and estate planning services.

Sources: Blockchain.News, interview CNBC

Version by Andrés Martínez / DailyBitcoin

Imagen the Flickr

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