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PayPal To Offer Crypto Trading Through Paxos Partnership

Digital giants PayPal is likely to offer crypto trading through Paxos partnership in the near future. Coindesk reported on July 20 that PayPal plans to introduce crypto trading through Paxos’ new brokerage service. As of press time, it is unclear which crypto assets will be supported by PayPal.

The report comes after Paxos’ launch of a crypto brokerage that enables other firms to integrate crypto trading functionalities. According to Coindesk, PayPal will use this new service to deliver its crypto trading features.

With the entry of PayPal in digital currency industry, the space would signal development for the cryptocurrency industry.

The payments giant was previously a member of the Libra Association. Following a wave of skepticism from the public and regulators alike, PayPal withdrew from the body in October 2019.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.