It is being reported that global payment platforms PayPal and Venmo are planning to enable direct cryptocurrency purchases for their millions of users. According to the CoinDesk report, plans are in the works to offer crypto buying and selling to users of PayPal and Venmo. One of the unnamed sources in the report said that these global payment platforms are going to allow buying and selling of crypto directly from PayPal and Venmo. The report cited one of the sources saying that the service might become available in the next several months.
PayPal is hiring crypto engineers.
The global payment platform PayPal is hiring crypto and blockchain experts amid the reports of the platform being integrated with crypto. The job descriptions they’re hiring for are publicly available on the company’s own job board. The first listing of note is for a job titled “Technical Lead – Crypto Engineer.” The listing describes that the hired person will be responsible for “new initiatives for PayPal global with a focus on agility, time-to-market and innovation. According to the job description, the role includes designing, developing and maintaining key crypto products/features targeted towards availability, performance and scalability of the platform’s services.
People turn to digital mode of payments amid the pandemic.
The ongoing global pandemic has forced people to turn to digital mode of payments and avoid cash transactions. Governments all over the world have also started paying serious attention to the central bank-backed digital currencies. Cryptocurrencies have come a long way in the last decade as the mainstream adoption continues. Many private companies have acknowledged the power of decentralized currencies and are working to integrate them with their businesses. China is all set to become the first major nation to issue its own centralized digital currency dubbed as DCEP (Digital Currency Electronic Payment). Several other central banks are also currently researching on CBDCs.