Cryptocurrency partnership with Paxos from payment giant PayPal

By DHEagle | CryptoTent | 8 Aug 2020

It is said to partner with PayPal Paxos Crypto Brokerage, the payment giant to provide crypto services.

According to the news CoinDesk quoted today and relied on two people who knew the subject, one of the sources stated that the partnership could be announced as soon as this week.

Paxos Kripto brokerage opened last week and its first client was Revolut US. The API-based service allows fintech companies to integrate cryptocurrency trading, storage, and sending into their applications. While Paxos deals with all legal, technological and liquidity sides, fintech companies are dealing with front-end experiences. Paxos also publishes stable cryptocurrencies. The company has its own cryptocurrencies, including Paxos Standard (PAX), indexed to the US dollar, and PAX Gold (PAXG), indexed to the bottom.


As is known, last month there were allegations that PayPal would start offering cryptocurrency trading services. These allegations grew stronger after the company announced a recruitment announcement for a crypto engineer, and it turned out that the payments giant recently announced to the European Commission that it would move towards the cryptocurrency industry.

PayPal has over 300 million users worldwide. The number of users in the crypto money markets is expressed as 40 or up to 50 million. That's why PayPal's entry into the cryptocurrency industry will undoubtedly be a big deal.

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