Defi Technologies - Will Paypal Be Using Defi Apps?

Dan Schulman, president and CEO of the payment systems giant, stated that the company is adding “incremental functionality” to the crypto trading platform, having already increased the crypto purchasing limits to $100,000 per week on July 15, 2021.

He revealed during PayPal’s earnings call on July 28th, 2021 that it is ramping up its new consumer wallet “super app” in the US over the next few months. In addition to features such as high-yield savings and early access to direct deposit funds, the app will offer additional crypto capabilities, he said.

PayPal is working with regulatory agencies and central banks across the world, as Schulman said the number of countries looking into CBDCs has increased from about 40 to 100 over the last year or so. Governments are showing increased interest in creating a more efficient system using new technology to bring more people into the financial system, he added.

Separate listings show that PayPal is also looking to hire crypto risk managers and investigators; legal directors to work on crypto and regulatory business initiatives; and senior managers of cryptocurrency product; and cryptocurrency technology strategy enablement program managers, among other roles.

PayPal is the only payments company to offer features like global seller protection and fraud prevention services at no additional cost. They are one of a few payments companies to allow consumers to use cryptocurrency as a funding source to check out on their platform. Their Buy Now, Pay Later offering comes at no additional cost to merchants, while boosting their conversion rates and increasing cart sizes by 39%. And they continue to expand their product differentiation through recent acquisitions like Chargehound and Happy Returns that will drive additional value to both consumers and merchants post a sales transaction.


 

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