Post
Topic
Board Legal
Re: Why PayPal does not like BitCoin sellers?
by
Justin-Checqit
on 24/01/2018, 23:22:37 UTC


Paypal is in a partnership with Coinbase, letting their users cash out their bitcoin with Paypal. Additionally, behind the scenes, PayPal’s been showing signs of interest in virtual currencies. A recently published patent application from PayPal shows the company has explored integrating bitcoin and other virtual currencies like LiteCoin and Dogecoin into physical smartphone payments. The patent application was filed in December 2015.

The payments giant recently added Wences Casares, CEO of bitcoin wallet Xapo and a renowned bitcoin advocate, to its board of directors in January 2016.

Also, PayPal also held a hackathon in December, according to multiple sources with knowledge of the event. The purpose? To find out new ways for PayPal to use bitcoin and blockchain technology. The attendees included Snapcard, a B2B bitcoin payments company, Coinbase, and Chain. Developers tested things like cross border payments, merchant processing, and creating a digital wallet using bitcoin.

Depending on how well paypal can integrate the lightning network into its structure, Litecoin seems more viable right now but bitcoin will never be really far behind with all the development being poured into the lightning network.