PayPal CEO Says Cryptocurrency will Revolutionize the Financial System
DailyCoin
Published Mar 16, 2022 04:04AM ET
Updated Mar 16, 2022 05:01AM ET
PayPal CEO Says Cryptocurrency will Revolutionize the Financial System
Dan Schulman is the CEO of PayPal (NASDAQ:PYPL) and a proponent of cryptocurrency. Through Axis Tel Aviv video conference, Schulman shared his thoughts about cryptocurrencies, as he sees a bright future in crypto and believes that blockchain will provide new opportunities in the financial sphere:
“The intersection between CBDC, stable coins, digital wallets, and enhanced utility of payments through cryptocurrencies is not just fascinating, but I think will redefine a lot of the financial world going forward.” However, Schulman doesn’t regard the value of Bitcoin or any other cryptocurrency as the main focal point. Instead, he explores how digital assets can impact the current financial system.
“I’m very excited about what crypto and digital ledger technology can do to the financial system going forward. I think the initial things that everyone thinks about crypto, buying and selling it, and what the price of bitcoin is going to be tomorrow, that’s the least interesting part about digital currencies to me,” he said.
PayPal, founded by renowned crypto advocates, such as Peter Thiel and Elon Musk, was a pioneer in online financial services and advanced traditional payment methods in the late 90s.
PayPal is progressing even further – the fintech company recently revealed to be developing its own cryptocurrency, a stablecoin possibly pegged to the U.S. dollar.
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