PayPal’s buy, sell and hold crypto products are coming to the UK in a few months, the company announced on Investors Day.
The launch of Crypto as its financing service will go live in a few months, and Venmore’s crypto products will go live in the first half of 2021.
The results of the e-commerce giant’s new product “exceeded” expectations, said Jonathan Orbach, PayPal’s executive vice president and chief strategy, growth and data officer.
“We’re actually looking at our crypto services to help PayPal position itself, help build the role of cryptocurrencies and CBDCs safely and securely in customer’s payment, trade and financial services.” “It’s a very early day here for us, but we’re moving fast.”
Its Q42020 earnings, Reported a 11.8% quarter-over-quarter increase in PayPal transaction revenue and said that customers who purchased crypto through the platform logged in to PayPal more than twice as much before buying crypto.