Will PayPal Finally Integrate Bitcoin & Crypto-Related Services On Its Platform?

Many worldwide payment gateways have already taken the plunge & endorsed the world of cryptocurrencies. Giants like Revolut, or Square app are profiting from the decision big time with Square reporting $306 million revenue from its Bitcoin-related services while Revolut continues to expand and raise funds to improve its platform, including more options to transfer Bitcoin, Ether, Litecoin, Ripple XRP, and Bitcoin Cash.

Meanwhile, Skrill & Neteller are probably the most popular cross-platform eWallets that give their customers the possibility to buy & sell crypto… for now. Why for now? Because rumors emerged linking eWallet powerhouse PayPal to all things Bitcoin & cryptocurrency.

PayPal ‘Is Looking’ To Integrate Bitcoin & Crypto Buying & Selling

According to Coindesk, one PayPal ‘insider’ confirmed the company’s plan to offer cryptocurrency trading on its platform, ‘in the next three months, maybe sooner.’

The eWallet is working on a built-in wallet that will help the users familiarize themselves with digital currencies, another sources reported.

If the rumors are true & PayPal completes the project, over 300 million users registered on the platform will have the chance to experience a hands-on approach over Bitcoin, at least, if not some other popular altcoins like Ether, Litecoin, or Ripple XRP. Thus far, the number one eWallet in terms of popularity or customer base has flirted with the crypto world thanks to the US-based cryptocurrency exchange Coinbase. Currently, the Americans and Europeans who use Coinbase can make a deposit, as well as withdraw their funds using PayPal.

The integration could potentially be a big hit for the industry that had its ups & downs in 2020 due to the coronavirus pandemic and the financial markets rally from May and June. Nevertheless, no spectacular piece of (crypto) news has altered the market, as of late & a potential PayPal move could bring some volatility in the months to come.

PayPal Is Seeking Crypto & Blockchain Experts

If you have paid attention and have taken a look on the PayPal Jobs platform – where the company posts its job offerings – in 2020, you might have spotted a trend.

Indeed, the number one eWallet has posted several crypto-related jobs since the beginning of the year, the latest one being a full-time Blockchain Research Engineer in San Jose, California. In the job description, there is a mention of a blockchain research group recently formed ‘within the Strategic Technology Enablement team’ that is looking for ways to implement the nascent peer-to-peer technology on the platform, ‘on a rolling, 3-6 months basis.’

Besides researching and thinking of ‘pilot’ programs, the Blockchain Research Engineer will need to work with the development team & help them find ways to implement the blockchain technology on the platform.

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