{"id":226564,"date":"2021-04-14T15:34:00","date_gmt":"2021-04-14T12:34:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ceo-says-paypals-crypto-commerce-may-reach-200m-volume-in-just-months\/"},"modified":"2021-04-14T15:34:00","modified_gmt":"2021-04-14T12:34:00","slug":"ceo-says-paypals-crypto-commerce-may-reach-200m-volume-in-just-months","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ceo-says-paypals-crypto-commerce-may-reach-200m-volume-in-just-months\/","title":{"rendered":"# CEO says PayPal\u2019s crypto commerce may reach $200M volume in just months"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f9b286457d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f9b286457d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ceo-says-paypals-crypto-commerce-may-reach-200m-volume-in-just-months\/#Digital_currencies_will_create_financial_inclusion\" >Digital currencies will create financial inclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ceo-says-paypals-crypto-commerce-may-reach-200m-volume-in-just-months\/#Digital_currency_innovation_could_take_longer_than_expected\" >Digital currency innovation could take longer than expected<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ceo-says-paypals-crypto-commerce-may-reach-200m-volume-in-just-months\/#No_plans_to_add_Bitcoin_to_PayPals_balance_sheet\" >No plans to add Bitcoin to PayPal\u2019s balance sheet<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># CEO says PayPal\u2019s crypto commerce may reach $200M volume in just months <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZDQxMTExOTMtOTFkOS00NzBjLTg2YmYtZDRlMzcwMGIxYzNhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>As the price of Bitcoin continues to reach new all-time highs, major corporations with existing crypto offerings in place are beginning to discuss grand plans for the future.\u00a0<\/p>\n<p>Most recently, Dan Schulman, CEO of PayPal, hinted at future developments for PayPal\u2019s crypto offering during Forbes\u2019 \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/connect\/event\/2021-forbes-blockchain-50\/\">2021 Blockchain 50 Symposium: Crypto Goes Corporate<\/a>,\u201d an online event that took place on April 13. <\/p>\n<p>During a fireside chat with Michael del Castillo, associate editor at Forbes, Schulman mentioned that the financial system will undergo more changes over the next five years compared to the progress that has been made in the previous 30 years. Schulman further noted that digital currencies, like Bitcoin (BTC), will lead the way, mentioning that there will be far less cash and credit card transactions in the next five to 10 years. Schulman said:<\/p>\n<blockquote><p>\u201cWe are moving into the era of digital currencies, and those digital currencies hold tremendous promise, whether these are cryptocurrencies or central bank digital currencies. I believe digital currencies can increase the utility of payments and make the financial system more inclusive and less expensive.\u201d <\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Digital_currencies_will_create_financial_inclusion\"><\/span>Digital currencies will create financial inclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Schulman, one of the biggest challenges facing society today is the fact that millions of people everywhere are being excluded from today\u2019s financial system. This has become especially <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent in the United States, as Americans with bank accounts have started receiving their latest round of economic stimulus checks via direct deposit. Unfortunately, millions of unbanked and underbanked Americans must wait much longer to receive paper checks in the mail. <\/p>\n<p>Schulman noted that today\u2019s financial system is relatively inefficient, mentioning that it takes too long to receive money, which is even more challenging for lower-income individuals. \u201cIt\u2019s not inclusive at all,\u201d he said. <\/p>\n<p>In order to solve these ongoing issues, Schulman explained that PayPal\u2019s crypto offering,\u00a0which went live in the United States in November 2021,\u00a0will eventually allow users to do more than just buy, sell and hold Bitcoin, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). While PayPal revealed at the end of March that the platform would soon allow its merchants to accept cryptocurrency as a medium of exchange, Schulman hinted that this is just the beginning of many possibilities:<\/p>\n<blockquote><p>\u201cPayPal really wants to use cryptocurrency as a funding source for everyday transactions. The end<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>, though, is a more noble vision of this inclusive economy, and things will be done much differently than today.\u201d<\/p><\/blockquote>\n<p>In addition to crypto payments, Schulman shared that PayPal will eventually leverage smart contracts and other underlying technologies to ensure that a payment is more than just a transaction. \u201cThis is the promise of all digital currencies \u2014 they can create incremental value from just a basic transaction.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Digital_currency_innovation_could_take_longer_than_expected\"><\/span>Digital currency innovation could take longer than expected<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While PayPal\u2019s crypto plans are notable, it\u2019s important to point out that innovation may take longer than expected. For instance, when del Castillo asked Schulman about how long he expects PayPal\u2019s crypto service to reach $200 million in volume, Schulman boldly answered that it would take only a matter of months, or maybe less. <\/p>\n<p>Although this is encouraging for crypto adoption, del Castillo noted that it took Coinbase Commerce, a platform that supports cryptocurrency payments for online retailers, 13 months to generate $200 million in volume. <\/p>\n<p>However, Cointelegraph previously reported that the success of Coinbase Commerce was partly due to the 8,000 retailers currently using Coinbase for payment services. Schulman mentioned during the fireside chat that PayPal has over 375 million consumers of digital wallets and about 30 million merchants on the platform. In turn, PayPal may very well break new boundaries when it comes to digital payments for commerce. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"No_plans_to_add_Bitcoin_to_PayPals_balance_sheet\"><\/span>No plans to add Bitcoin to PayPal\u2019s balance sheet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although Schulman appears to have a highly optimistic attitude toward cryptocurrency adoption, the executive shared that there are still no plans to add Bitcoin to PayPal\u2019s balance sheet in 2021. \u201cI think the probability of this is low,\u201d he said. <\/p>\n<p>When asked why, Schulman explained that PayPal\u2019s balance sheet consists of safe assets with less volatility since funds need to be used in ways that may return money to shareholders. \u201cWe really need to be sure of what\u2019s on that balance sheet to ensure consistent capital allocation,\u201d Schulman said. <\/p>\n<p>While this may be, Michael Saylor, chairman and CEO of MicroStrategy, has a different belief regarding Bitcoin\u2019s volatility. This shouldn\u2019t come as a surprise, though, as the business intelligence firm recently announced that its board of directors would\u00a0receive bonuses in Bitcoin\u00a0instead of fiat.<\/p>\n<p>Saylor also shared his thoughts on the future of Bitcoin during Forbes\u2019 \u201c2021 Blockchain 50 Symposium: Crypto Goes Corporate\u201d event.<em> <\/em>During a fireside chat with Steve Ehrlich, digital assets research director at Forbes, Saylor commented that there has been \u201ca huge change across the sentiment in the corporate world\u201d toward Bitcoin. However, he noted that thousands of companies are still hesitant to add Bitcoin to their balance sheet for two reasons: volatility and intangible accounting. <\/p>\n<p>According to Saylor, volatility is a misnomer, noting that Bitcoin has been the most successful asset of the decade because it has been doubling in price every six months for 10 years straight. Saylor commented: <\/p>\n<blockquote><p>\u201cThe winning team of everything on earth is always the most volatile. Anyone who thinks volatility is bad must be betting on losers.\u201d<\/p><\/blockquote>\n<p>Saylor further explained that the only logical reason why most companies still haven\u2019t added Bitcoin to their balance sheet is due to intangible accounting methods, noting this is more problematic than volatility.\u00a0Although this may be the case for many companies, Saylor remarked that MicroStrategy\u2019s balance sheet will be 99% invested in Bitcoin. He said:<\/p>\n<blockquote><p>\u201cOur strategy is to develop, acquire and hold Bitcoin. Crypto and Bitcoin are gaining acceptance and adoption. If you look at March 2020 versus where we are today, you can see it\u2019s an extraordinary developing asset class. I also think the Coinbase direct listing will be a massive coming out party for the crypto economy.\u201d<\/p><\/blockquote>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ceo-says-paypal-s-crypto-commerce-may-reach-200m-volume-in-just-months\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# CEO says PayPal\u2019s crypto commerce may reach $200M volume in just months &#8221; As the price of Bitcoin continues to reach new all-time highs, major corporations with existing crypto offerings in place are beginning to discuss grand plans for the future.\u00a0 Most recently, Dan Schulman, CEO of PayPal, hinted at future developments for PayPal\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":226565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZDQxMTExOTMtOTFkOS00NzBjLTg2YmYtZDRlMzcwMGIxYzNhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,75885,74889,76574,74355,117,67874],"class_list":["post-226564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-enterprise","tag-payments","tag-paypal","tag-adoption","tag-business","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/226564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=226564"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/226564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/226565"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=226564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=226564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=226564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}