Speaking to TIME magazine, Dan Schulman, CEO of PayPal said that “the demand on the cryptocurrency side has multiplied by several times what we initially expected.” And, he added that “there is a lot of emotion.” A few months after the payment giant PayPal incorporated cryptocurrencies to its platform, the demand for Bitcoin and other cryptocurrencies has “multiple times” exceeded the company’s expectations.
Schulman noted that the coronavirus pandemic has greatly accelerated the digitization of payments around the world.
Dan Schulman explained that cryptocurrencies are just one part of the general trend of digitization of daily payments, accelerated by the coronavirus outbreak. In ten years, he argued, there will be a “tremendous” decline in the use of cash and credit cards. However, on the other hand, most of the financial operations will be carried out through smartphones and “superapps”.
In the context of financial modernization, Dan Schulman spoke about central bank digital currencies (CBDC). Central banks also need to rethink monetary policy, because you can’t just issue more paper money in the system because people are not using paper money. And this is the advent of digital currencies.
PayPal expands its services with cryptocurrencies
PayPal announced its plans to introduce the functionality of buying, holding and selling cryptocurrencies last year. And it finally launched the service in the United States in mid-November 2020.
Although they recently added Bitcoin to the platform, the company had been “looking for ways” to incorporate digital currencies and Blockchain for more than six years. According to the CEO told TIME. “I thought it was early, and that cryptocurrencies at that time were much more active than currency.”
Now, amid recent price increases in the digital currency market, and in addition to growing user demand, PayPal has continued to expand its cryptocurrency services. In mid-March, the company launched a service that enables cryptocurrency payments among its more than 25 million merchants globally.
Health group in Spain begins to accept cryptocurrencies such as Bitcoin as a payment method
In Spain, the Biziondo health group announced that it will start accepting Bitcoin as a payment method from June. This was reported by Forbes Negocios, on April 23, citing David Izquierdo, Biziondo’s manager, as a source.
As detailed, the idea is that this option is available in five hospitals of the Biziondo Group: in Bilbao, Madrid, San Sebastián, Lorca and Malaga.
The Biziondo health group, which works with spinal specialists, has decided to accept Bitcoin. But also other digital currencies as a payment method, starting next June 1.
David Izquierdo commented: “It is clear that the Bitcoin revolution has already started. In an economic context in which, in 2020, 60% of the world’s money was printed by the central banks of Europe, the United States and Japan, a financial disaster will inevitably be reached in approximately two or five years.
Binance to launch Microstrategy, Apple and Microsoft stock tokens
The largest cryptocurrency exchange in the world, Binance has announced that it will publish three new stock tokens within the next week. Following the launch of tokens that track the performance of Tesla and Coinbase stocks earlier this month.
On April 26, Binance announced that it will launch stock tokens from large business intelligence firm Microstrategy (MSTR), in addition to multinational technology companies Apple (AAPL) and Microsoft (MSFT).
The tokens will allow users to trade fractional units of the stock tokens; the minimum trade size will be set at one hundredth of a token.
Binance’s MSTR tokens are scheduled to launch at 13:30 UTC on April 26, while AAPL tokens will launch at the same time on April 28, and MSFT tokens will be tradable starting on April 30. .