The payment company PayPal plans to make cryptocurrency trading accessible for its clients and has chosen Paxos as a designated provider of digital assets for the new service.
According to sources, familiar with the developments, further details about the partnership between PayPal and Paxos will be released later this week. In case of success of the initiative, PayPal will become one of the biggest most known companies, offering cryptocurrency exchange services.
As of right now, it is still unclear what cryptocurrencies does PayPal plan to offer to its clients.
In the second half of June information surfaced, that the payment company and her subsidiary company for mobile payment services Venmo plan to provide their 325 million users with the ability to buy cryptocurrency directly.
Furthermore, additional information suggested that PayPal may partner up with Coinbase or Bitstamp. Earlier this month the company announced that it explores the cryptocurrency space “and works on development and introduction of cryptocurrency options”. This announcement was made in a letter to the European Commission.
