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.