Transakcje kryptograficzne zwiększają przychody PayPal w czwartym kwartale

PayPal published a report in which it named data for the 4th quarter of 2020. As it turned out, due to the influx of crypto users, the income of the payment network grew by 11.8% and amounted to $5.7 billion

From September to December 2020, 16 million new accounts have appeared on the network. The turnover of funds during transactions amounted to $277 billion. This is not surprising, given that more than 350 million PayPal users have access to the purchase of cryptocurrency.

Also, judging by the data from the report, many clients intensified their activity and began to visit the platform twice as often as before the introduction of crypto transactions. In this regard, the company is forming a cryptocurrency business unit that will promote PayPal's cryptocurrency services to the global market.

According to PayPal CEO Dan Shulman, the forecasted and actual trading volumes were initially very different. No one would have thought that PayPal users would be so active in crypto payments.

In 2021, the company's crypto division plans to intensify its work on the international market. PayPal is currently partnering with regulators and central banks to create a modernized next generation financial network.