Cross-border payment heavyweight PayPal reportedly looks to release supporting features for crypto trading, via a newly formed collaboration with stablecoin operator Paxos.
Specifically, PayPal is reportedly going to roll out crypto trading via Paxos’ new brokerage service. As of press time, the digital assets that would be facilitated by Paypal is yet to be disclosed.
The news reportedly came out after an announcement on July 15th, regarding the roll-out of a Paxos-developed crypto brokerage, allowing different companies to finalize integrations of crypto trading functionalities.
A simple application programming interface integration will reportedly be utilized to use the service, and for regulatory compliance management as well. PayPal will reportedly use the new service to facilitate its crypto trading features.
The presence of Paypal within the cryptocurrency space will reportedly be a sign that leads to profound growth for the cryptocurrency sector.
The payments heavyweight was reportedly a member of the Facebook-developed project Libra in the past. However, after extensive skepticism from the general audience and regulators, PayPal decided to leave the associate in October last year.