PayPal
Courtesy of PayPal
- CategoryTradFi
PayPal, whose early executives included Peter Thiel and Elon Musk, disrupted the existing payments infrastructure soon after its founding in 1998. Through its digital wallet, it removed the headache of having to type in credit or debit card numbers for every online purchase.
Sensing a similar revolution in payments with the advent of blockchain, PayPal has made a clear commitment to crypto, investing in Bitcoin trading, venture funding, and stablecoins. Under CEO Dan Schulman, PayPal made its first big splash in crypto in 2020, announcing that U.S. users would be able to buy, hold, and sell Bitcoin, Ether, Bitcoin Cash, and Litecoin on its payment apps, including Venmo.
The company then expanded its offerings, letting users pay merchants with crypto and partnering with Coinbase to allow those with PayPal–linked debit cards and bank accounts to buy tokens on the exchange. The payments provider also has invested in crypto startups through its venture arm, funding, for example, the development team behind the up-and-coming blockchain Aptos.
Sensing a similar revolution in payments with the advent of blockchain, PayPal has made a clear commitment to crypto, investing in Bitcoin trading, venture funding, and stablecoins. Under CEO Dan Schulman, PayPal made its first big splash in crypto in 2020, announcing that U.S. users would be able to buy, hold, and sell Bitcoin, Ether, Bitcoin Cash, and Litecoin on its payment apps, including Venmo.
The company then expanded its offerings, letting users pay merchants with crypto and partnering with Coinbase to allow those with PayPal–linked debit cards and bank accounts to buy tokens on the exchange. The payments provider also has invested in crypto startups through its venture arm, funding, for example, the development team behind the up-and-coming blockchain Aptos.