Hold PayPal responsible: PayPal gets into crypto with new features for trading and shopping

From CNBC:

The company said in a press release that its new cryptocurrency service would launch in the U.S. in the coming weeks and will initially feature bitcoin, ethereum, bitcoin cash and litecoin. By early 2021, the company also plans to let customers use crypto to shop with its network of 26 million retailers.

Shares of PayPal climbed over 3% in early New York trading. Bitcoin’s price meanwhile rose almost 5% to trade at around $12,440, according to data from CoinDesk.

“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly,” PayPal CEO Dan Schulman said in a statement.

“We are eager to work with central banks and regulators around the world to offer our support, and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”

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