Paypal Confirms Developing Cryptocurrency and Digital Asset Capabilities

Jul 17, 2020

온라인 슬롯 사이트

Over the past year, the European Commission has launched a on the regulation of digital devices and cryptocurrencies, or what they call crypto-assests. Responses were published in June, including a stating that it had improved the sector’s capabilities since withdrawing from Libra. This follows an earlier CoinDesk report that PayPal and its Venmo subsidiary will offer cryptocurrencies.

The company was one of the initial members to commit to Facebook’s Libra, but later along with several other major players.

In the letter to the EU, it outlined this as background: “In 2019, PayPal initially signed a non-binding letter of intent to participate in the Libra Association with the intention of learning more about the proposed use of blockchain technologies to provide financial services to unbanked populations across the globe.”

And it continued: “Since the project’s inception, PayPal has taken unilateral and tangible steps to further develop its capabilities in this area, and therefore – without questioning the value of the project – took the decision not to participate in the Libra Association and to continue to focus on advancing our existing mission and business priorities to democratize access to financial services.”

Several other interesting responses were received to the EC consultation, including one from Calibra, a subsidiary of Facebook Wallet (for Libra), which has since been renamed to novi.

Check out the latest Blockchain news bellow: