One of the largest giants of online-payment PayPal has confirmed that it works on the introduction of cryptocurrency tools on its platform. Information about this first floated in March this year when it became clear that a letter from the European commission to the company has invited the company to take part in the public consultations on the structure of crypto assets.
As an innovating fin-tech company in accordance with its mission PayPal monitors the development of the crypto asset space, representatives of the company announced.
PayPal has started looking into cryptocurrencies last year when the company entered the Libra Association. However, PayPal was the first company to leave the consortium and was later followed by Mastercard, Visa, and other.
Reportedly PayPal has been looking into the option of creating an exchange for Bitcoin trading on its platform.
PayPal`s European branch is licensed in Luxembourg and performs its operations in 31 jurisdictions in Europe with around 95 million users on the continent.
Furthermore, the company, that is based in California, has previously proposed to the EU to formulate а clear definition for crypto-assets and introduce licenses and regulations to the companies working in this industry.
