PayPal and Paxos bring cryptographic assets to millions of users

From Paxos CEO and co-founder Charles Cascarilla:

I am very pleased to announce that Paxos is supporting PayPal's new service, which allows U.S. users to purchase, hold and sell encrypted assets directly from PayPal E-Wallet. The news had an unprecedented impact on the PayPal community, the cryptocurrency industry, and, of course, Paxos.

For the PayPal community, they will be able to buy encrypted assets directly from PayPal for the first time today. PayPal introduced its users to buy, hold and sell Bitcoins, Ethereum, Bitcoins cash and Litecoin, which will be rolled out to other regions and add more features before it starts in the United States.

The news is significant for the encryption industry. PayPal promotes the awareness and education of digital money, promotes its adoption and increases its usefulness. With 346 million active accounts (including more than 26 million merchants), the PayPal global ecosystem is likely to significantly influence the size and reach of the encryption market over the next few years.

For Paxos, we are very proud to provide the underlying platform for crypto asset services to PayPal, which is working with us to promote an open digital economy. Paxos is well prepared for the scale of this type of project. We have built an infrastructure tailored specifically for organizations to access open financial systems. We believe what makes us stand out is our one-stop enterprise technology and regulatory licensing.

Technology:Paxos Cryptographic Asset BrokerProvide PayPal with cryptographic asset custody and transactions. Our API allows PayPal to provide a clean and intuitive user interface within its applications, while seamlessly providing encryption services.

Regulatory license: Paxos took the lead in adopting the concept of "regulation first" in the encryption industry, and obtained the first trust license that can provide digital assets based on blockchain. Today, we set another regulatory precedent: PayPal, through Paxos, has received the first limited license for virtual assets from the New York State Department of Financial Services. Our commitment to regulatory licensing and consumer asset protection directly assists our customers in providing encrypted assets to their users.

Blockchain technology has changed the financial market and our relationship foreverMonetary assetsBut it is still in its infancy. When a company like PayPal enters this space, they need a partner who does a good job and is trustworthy. We are proud to have been able to drive this historic development in financial technology toward greater promise and hope togetherA more open financial future.

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