Home
News
- PayPal had recently reached the $242 mark by introducing new policies.
- Customers can now trade various crypto currencies over PayPal and this was possible by the ownership of Bitlicense.
- Mixed reviews towards the decision have been prevailing quite a while, but PayPal promises to stand strong .
PayPal, one of the leading providers of online banking or money transaction services has recently seen a growth of 5% in its value in the last 24 hours. They ended up at $242 market value which has been their highest market value than compared to that of September 2020. The strong reason for this sudden hike is due to the introduction of new regulations and reforms in the companies services.
REGULATIONS AND SCHEMES
PayPal has planned to introduce merchant trading into their system. Now trading can be carried out with crypto currency giving users the freedom of buying and trading crypto currency. It has also earned the Bitlicense from the NYFSD and due to this the institutions investing in PayPal can have a better access to the New York virtual market place. Since this announcement has been made the shares and the value of PayPal has risen variably. PayPal intends to bring this into action with the help of its Venmo platform.
COMMENTS IN THE MARKET
Despite all these facts, there have still been a lot of comments on the capability of PayPal to perform in the crypto domain. Few people had a positive approach while some other had the opposite. An analyst named Moshe Katri presented his view saying that these features that were introduced were almost similar to PayPal’s market rival Square inc. and this move wouldn’t bring out much change. On the other side, another analyst named Darin Peller said that PayPal with its leading security system and impeccable market capability can bring in a change and of course a revolution in the view of crypto currency being traded.
And also many doubts poured in by the statement given by Nexo CEO Antonio Trenchev regarding Bitcoin. He said that the rise in the value of Bitcoin was due to the unwanted rush or emergency created in the minds of the users.
Still PayPal is trusted by many merchants around the globe and despite the negativity prevailing PayPal is keen on delivering its customers with the best trading and exchange experience.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
