The CEO of PayPal has revealed that the company is actively exploring the role of cryptocurrency in shaping the future of commerce and payment processing.
In a recent interview with Yahoo Finance, Alex Chriss expressed that he believes cryptocurrency is set to become a crucial element in the evolving landscape of consumer commerce.
He noted that the technology facilitates faster, larger-scale transactions globally while reducing costs, which ultimately benefits consumers. Chriss emphasized PayPal’s commitment to taking the appropriate regulatory steps to ensure the safety of transactions and the protection of users’ funds.
He clarified that while PayPal does not intend to become a cryptocurrency exchange, its primary interest lies in making payments quicker, more secure, and more affordable.
Chriss explained that the company’s goal is to connect consumers and merchants around the world, enabling seamless and efficient transactions at lower fees.
He highlighted that consumers currently face significant costs due to high fees associated with payment processing and indicated that PayPal is just beginning to unlock the potential of cryptocurrency for global payments.
Global banking heavyweight Banco Santander is quietly laying the groundwork to enter the stablecoin space, eyeing fiat-pegged digital tokens as part of a broader strategy to offer crypto services to retail clients.
Crypto exchange Bitget has introduced a new investment product, BGUSD, a yield-generating stable asset tied to real-world financial instruments like U.S. Treasury bills and top-tier money market funds.
A growing number of banks are quietly integrating Ripple’s blockchain infrastructure to improve cross-border transactions, opting for a hybrid model that doesn’t require replacing their legacy systems.
Several of America’s largest banks—including entities tied to JPMorgan, Bank of America, Citigroup, and Wells Fargo—are exploring the creation of a shared stablecoin, according to sources familiar with the discussions.