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PayPal CEO Dan Schulman Rolls Over to the Pro-Crypto Side

Posted on December 1, 2019December 1, 2019 by Julie Williams

Widespread jubilation hit the global crypto community as yet another tech boss swims over to the pro-Bitcoin side. This time it’s PayPal CEO, Dan Schulman. Quoting his very words, Schulman stated, “Yes. Bitcoin” when asked if he holds any digital currency. These two magical words are more than a simple answer. Coming from Schulman, this answer is more like an endorsement and a reassurance that Bitcoin(BTC)trade still holds the spot of the world’s most celebrated…

After PayPal’s Departure, Visa, MasterCard, eBay, Stripe left the Libra Association

Posted on October 15, 2019December 1, 2019 by Ravi Rd

After PayPal, several Other members of the Libra Association including MasterCard, Visa, eBay, Stripe, and Mercado Pago, have also abandoned Facebook’s plans for creating the distributed, global cryptocurrency Libra. This serious blow from these payment processor giants came as the Libra crypto project attracted fierce criticism from global regulators and lawmakers, and made industry experts raise the question regarding the existence of the project. These withdrawals leave Libra with no major US payment processor which…

PayPal Becomes the First Member to Leave Facebook’s Libra Association

Posted on October 7, 2019December 1, 2019 by Ravi Rd

Pioneering digital payments firm PayPal will no longer be a part of the Geneva-based non-profit Libra association, an alliance that oversees Facebook’s digital currency program Libra. This move come after reports that PayPal is worried about Libra. The payments giant has not stated any precise reason behind its withdrawal from the Libra association, only saying that the company will focus on advancing its existing services. The Libra Association was formed in June 2019 in Geneva,…

PayPal Is Worried about Facebook Libra’s Future as Regulatory Pressure Increases

Posted on September 18, 2019December 1, 2019 by Ravi Rd

PayPal seems to be worried about the future of Facebook’s cryptocurrency Libra as the development of the forthcoming digital currency has several hurdles on its way before it goes live. PayPal is one of the partners of the Swiss nonprofit Libra Association, which looks after the stability of the stablecoin. Facebook announced its plan to launch a stablecoin, which will officially roll out in 2020, and will be backed by a basket of financial assets…

PayPal CFO: Working on Blockchain & Crypto, Still “a Little Early” to Focus on Bitcoin

Posted on May 14, 2019December 1, 2019 by Rehan Yousaf

Bitcoin is the largest cryptocurrency by market capitalization and volume. After a bearish run for one and a half year, it is starting to show signs of a bullish run again. Other cryptocurrencies mostly follow the trend of Bitcoin in terms of their prices. Which is why the signs of market improvement have gotten the crypto community excited. However, PayPal CFO John Rainey, thinks it is still too early to focus on Bitcoin. He was…

Facebook’s Crypto Team Consists of Ex-PayPal Staff; Stablecoin Might Be Announced Next Quarter

Posted on May 11, 2019December 1, 2019 by Rehan Yousaf

According to a Bloomberg report, Facebook might be launching its stablecoin as soon as next quarter. According to anonymous sources, Facebook is on the verge of launching its rumored crypto project in India and the social networking giant is doing it with the help from some of the best alumni from PayPal. Facebook’s cryptocurrency has been in the works for a while now and so far, the social media giant has kept their project under…

Research: In 10 Years Bitcoin to Surpass PayPal, Visa, MasterCard in Payment System Industry

Posted on April 5, 2019December 1, 2019 by Rehan Yousaf

Bitcoin has long been compared with its mainstream competitors for transaction volume, speed, and cost. In terms of scalability, Bitcoin has famously lagged behind other big players in the payment processing market. However, in some aspects Bitcoin has already surpassed its competitors according to a recent research report put out by cryptocurrency analysis platform, DataLight. The report shows that Bitcoin outperforms the likes of Visa, Mastercard, and PayPal in the transaction volume category to become…

PayPal Jumps into the Blockchain Waters with Investment in the Startup Cambridge Blockchain

Posted on April 4, 2019December 1, 2019 by Carolyne Walker

PayPal has finally decided to explore blockchain technology as it has participated in Series A funding round of Cambridge Blockchain, a Boston-based blockchain startup. The final amount of investment is yet to be revealed. Cambridge Blockchain is utilizing blockchain tech to give users complete control over their online identities without letting it being controlled by middlemen such as Google, Facebook or Twitter. For instance, signing in to social networking accounts today doesn’t grant full control…

PayPal Launches Blockchain Employee Reward Scheme

Posted on December 12, 2018December 1, 2019 by Jodie Lauren Smith

PayPal, the global online payments company, has reportedly announced internally last week that it is giving its employees a crash course in crypto token economics. Cheddar, the the financial news site, reported on the story on December 6. Cheddar reported that PayPal’s program was launched in mid-November and was engineered by the internal innovation team over a six month period. Employees at PayPal are given tokens, which they can access through PayPal’s internal website. If employees…