PayPal could play the role in relation to central bank digital currencies that private banks play to physical dollars.
The corporation’s CEO, Dan Schulman, set out a concept during its so-called investor day event this Thursday for PayPal’s digital wallets being how central banks distributed CBDCs to users across various income levels.
“You imagine just how many digital wallets we are going to have in the next few years. We are a perfect supplement to central banks and governments to dispense those digitized types of currency,” Schulman asserted.
Schulman also disclosed that PayPal is contemplating smart contracts utility and tokenization of non-crypto related assets.
“This represents a once in a few decades prospect when the fundamental railings of the structure are going to be reimagined and we have a chance to help shape that,” Schulman noted.
The company additionally published new numbers about the transaction activity of its clients who utilize the option for cryptocurrency payments.
PayPal users who use its crypto services have a 12% surge in weekly transactions on the platform. This is partly due to the fact that more than 40% of the US-based PayPal clients use the crypto return option to carry out more than two different transactions, the company noted.
