In China, the electronic payment represented by Alipay and WeChat has penetrated into every aspect of life. In the United States, PayPal is the leader in electronic payment, far ahead of other competitors.
According to foreign media reports, Paypal will allow users to buy, sell and hold cryptocurrency on the platform, and PayPal has obtained a cryptocurrency license from the New York State Department of financial services.
Paypal stated in the press release:
PayPal digital wallet will support bitcoin, Ethereum, bitcoin cash and letcoin, and the service will be available to PayPal account holders in the United States in the next few weeks.
Dan Schulman, PayPal's president and chief executive officer, said the shift to digital money was inevitable and had obvious advantages in terms of financial inclusion and access; as a result, payment systems would improve efficiency, speed and flexibility.
Affected by the good news, on October 21, local time, the quotation of trading platform coinbase showed that bitcoin soared to US $12500 / piece, up nearly 5% within the day, reaching a new high since July 2019.