Is PayPal Launching a Crypto?

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Paypal might be planning to do a Libra according to comments sent to the European Commission which has opened a public consultation on digital assets and cryptos. In those comments they reveal potentially more holistic plans than the simple offering of buying and selling of bitcoin and ethereum as has been rumored. Explaining why the left the Facebook led consortium for a crypto blockchain, Libra, Paypal revealed they have their own plans, stating: “As an innovative FinTech company and by virtue of its mission, PayPal is monitoring the evolution of the crypto-asset space. In 2019, PayPal initially signed a non-binding letter of intent to participate in the Libra Association with the intention of learning more about the proposed use of blockchain technologies to provide financial services to unbanked populations across the globe. Since the project’s inception, PayPal has taken unilateral and tangible steps to further develop its capabilities in this…

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