Paypal another step towards crypto markets.
Paypal another step towards crypto markets. Just a year ago in August 2023 Paypal began its journey towards crypto markets with the creation of PYUSD, its stable coin referenced to the dollar. It installed it on SOLANA, which is one of the chains with the most momentum in recent times and with very low commissions unlike ETHER. Its capitalization is very low compared to other stable coins such as USDT or USDC but it continues to grow solidly.
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Now it seems that it is taking another important step and has announced that it will allow buying, selling and storing other cryptocurrencies. But as usual, for the moment this will only be activated for US users. So the rest of the planet will have to wait a bit.
I think this functionality will give Paypal a big boost in the currency transfer markets since with cryptocurrencies users can transfer at a lower cost.
Also because many citizens of countries with weak currencies already use Bitcoin and other currencies to protect themselves from market fluctuations.
I think this will not be the last step for Paypal, which will end up being a company focused on crypto markets in the medium term.
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Do we know which alt-coins Paypal is going to allow people to buy?
It is not yet known, but they will surely be the most popular and most liquid.