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PayPal: letter sent to EU to confirm interest in cryptocurrencies

PayPal sent a letter to the European Union in which he officially confirmed the interest in the world of cryptocurrency

The letter that was sent a few months ago has gradually increased the indiscretions that have made us assume that by the end of 2020 the American giant could have launched a service for the trading of cryptocurrencies.

The letter sent to the European Union was sent as official response from PayPal to a public consultation in which he had participated at the end of 2019. The public consultation had been started on the construction of a new one framework of the European Union for markets and assets in the field of cryptocurrencies.

Paypal: what the letter to the EU says

La letter to the European Union sent by Paypal says that the cryptocurrency asset sector has been the subject of various debates and discussions over the past few years. The arguments are different and range from the benefits of decentralization to potential impact of stablecoins globally and digital currencies also on the various central banks.

For this reason PayPal is currently evaluating and constantly monitoring global developments within the cryptocurrency field, the blockchain and the logs that are distributed. In particular, there is a lot of interest from PayPal in these technologies that can be used for promoting transparency and enhancing compliance efforts.

With these words, PayPal has officially and explicitly admitted its interest in cryptocurrency assets. 

In the letter he also added that: in what innovative FinTech company and its mission, PayPal constantly monitors the banking sector crypto-asset. During 2019 he initially signed a letter of intent, which is not binding, and which allows you to participate in the Association Libra with the intention of knowing more on the use of blockchain technology in order to provide financial services to unbanking populations located around the world.

Il PayPal project has taken tangible and unilateral measures in order to further develop its capabilities in the sector. For this reason, without questioning the value of the project, he decided not to participate in Libra and to focus on its current mission and on corporate properties for the democratization of access to financial services.

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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