PayPal admits it monitors crypto and blockchain space

PayPal responded to the European Commission’s public consultation on building a framework for markets in crypto-assets

PayPal crypto

PayPal admits it monitors crypto and blockchain space. Source: shutterstock.com

PayPal has revealed it’s continuously monitoring and evaluating global developments in the crypto, blockchain, and distributed ledger space.

The company stated it is interested in how these technologies and crypto-assets can be used for bigger financial inclusion. It would like to promote transparency and enhance compliance efforts in the industry as well.

Earlier in 2019, PayPal signed a non-binding letter of intent to participate in the Libra Association, a Facebook-led Libra stablecoin project. Since the project’s inception, the company decided not to participate in the initiative, confirming it wants to focus on advancing its capabilities.

We’ve reported that Facebook introduced Novi — the new name and brand for its digital wallet Calibra.  The company believes it will help people send and hold Libra digital currencies.

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