CEO Of PayPal Says Cryptocurrency Efforts Are Accelerating the Firm’s Earnings

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PayPal is a payment processing company based in the United States of America. The company is well known and reputed among its customer base and has been active since 1998. Along with the likes of Goldman Sachs, Tesla, and JPMorgan Chase and Co., PayPal had decided to become increasingly involved in the world of cryptocurrencies and has since added the likes of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin to its list of available payment options.

Most recently, we can observe that PayPal has been performing quite well ever since it had decided to adopt cryptocurrency, with Dan Schulman, the CEO and President of PayPal, believing that the cryptocurrency assets are helping forge a much more inclusive as well as equitable financial infrastructure and system. This was proven during the 1st quarter of 2021, as Schulman stated that the digital assets that the company had acquired had performed quite well and that CBDCs alongside cryptocurrencies are sure to play a key role in the future in terms of creating a more equitable overall financial landscape.

PayPal’s future plans for digital assets

Regarding the company’s future plans, Schulman believes that not only will the technological aspects of PayPal continue to be upgraded and improved upon over time but that these efforts will hopefully also play a part in helping the company recover from the ongoing global pandemic.

Schulman also claimed that PayPal does indeed have an extensive roadmap as far as cryptocurrencies and digital assets are concerned and that innovations related to these shall be pursued with the assistance and approval of the government. The reason for this is because PayPal has always wanted to conduct its business in a legitimate and legal way, and so it desires to continue complying with national, local as well as global rules and regulatory infrastructures.

PayPal is booming

A little over a month ago, PayPal’s shares had managed to increase by over 5%, and the earnings per share had outperformed all previous expectations by over 20% at $1.22 each. The overall revenue for the company had also gone past previous expectations by 2% at $6 billion.

Moreover, the accumulated payment volume had been $20 billion over what was initially predicted, which helped PayPal finish the year’s 1st quarter at the $285 billion mark. Lastly, the user base had been brought to just over 392 million following the creation of 14 and a half million new accounts.


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