As part of the evaluation of PayPal's results for the Q2 period, Dan Schulman as President and CEO of PayPal also commented on the topic of cryptocurrencies and future plans.
The main topic in this case was the crypto wallet itself, which PayPal has promised and been developing for a long time. Dan Schulman pleasantly surprised everyone when he stated that the super wallet as he calls it is in the final stage, because its code is complete.
Key features which this wallet should have include high yield savings, messaging and "additional crypto capabilities," as Dan said.
We’re one of a few payments companies to allow consumers to use cryptocurrency as a funding source, – We’re also seeing strong adoption and trading of crypto on Venmo. said Dan Schulman
As for the time estimates when this wallet could be launched, it could be within a few months in the US. When it will be launched for the rest of the world, there is no information yet.
This information was also an extremely important impetus at this time in terms of the behavior of traders in the cryptocurrency market. Bitcoin was struggling these days to keep $40K, an important psychological frontier, and it was the statements from PayPal CEO that helped it a lot.
However, it is not just the cryptocurrency Bitcoin, almost all crypto markets are currently green and in a bullish trend.