According to an interview of PayPal CFO John Rainey with Yahoo Finance, the company is still wary of cryptocurrency.
Rainey said that PayPal had previously considered the possibility of accepting payments in Bitcoin, but due to the high volatility of cryptocurrency, it is unlikely to be in great demand, since for vendors it is more convenient to use fiat currencies rather than convert BTC into them.
But this does not mean that the payment giant completely ignores the crypto space.
“We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form that takes in the future — I just think it’s a little early on right now”, – Rainey said.
Among the latest achievements of the company: the acquisition of Uber’s share of $500 million in anticipation of an IPO and the signing of an agreement with Instagram, a subsidiary of Facebook. Meanwhile, Rainey said that this is not PayPal’s latest global acquisitions this year.
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