- PayPal and Venmo may be delving into the crypto industry soon
- The two remittance firms may offer crypto trading soon
- PayPal is set to hire Blockchain and crypto experts
Cryptocurrency News Today – if the rumors are to be believed then, two prominent figures in the payments sector Paypal and Venmo are looking to offer cryptocurrency buying and selling to their 305 million users. The Fintech giant Paypal and Vemo, its mobile payment service are ready to enter into the crypto industry. This is good news for Bitcoin and other cryptocurrencies. Although it is still unconfirmed, the rumor is possibly one of the biggest and most important pro-crypto news to get to the financial market in recent years. It will likely give Bitcoin the long-needed push above $10,000.
Are PayPal and Venmo the Next Avenue for Bitcoin Adoption?
According to the original report by Coindesk, PayPal and Venmo intend to work on offering crypto buying and selling services to their users via their platforms. The report adds that the offering will be available for the three next weeks. Even though the global remittance giant, PayPal, already serves as an alternative payment service to withdrawing money from leading crypto exchanges (including Coinbase and Bitstamp), this will be the first time it makes its platform directly available for crypto transactions.
Considering that both PayPal and Venmo did not confirm the report, it is unclear the number of (and which) fintech giants that will support all cryptos. Another source adds that the rumor could take up to three months to be confirmed. Whether this is true or not remains to be seen.
PayPal is Set to Hire Blockchain and Cryptocurrency Experts
Even though the report that PayPal and Venmo have intentions to offer crypto buying and selling services on their platforms is a mere rumor, PayPal is hiring Blockchain and crypto experts. The first job listing on the platform states that the remittance giant is looking for a Technical Lead – Crypto Engineer. The job description entails that the employee will cater to global crypto needs and time-to-time innovations as well as developing product strategies.
Another job listing on PayPal is for the position of Blockchain research engineer. He/She will be responsible for the integration of Blockchain technology to scale both PayPal and Venmo remittance services. These recent job listings, plus the information from insiders compel us to agree with the report that PayPal and Venmo have decided to delve into the cryptocurrency space and bridge that gap between cryptocurrency and the traditional finance sector. If it becomes a reality, it will be one of the most substantial mainstream push that BTC has ever received a cryptocurrency.