Dan Schulman, CEO of payments giant PayPal, has said during the Axis Tel Aviv 2022 event that digital assets and blockchain will revolutionize the financial system, CTech has reported.
According to him:
"Everyone thinks about crypto, buying and selling it, and what the price of Bitcoin is going to be tomorrow. To me, that is thinking about digital currencies as an asset class and what kind of utility they can provide in payments."
Schulman believes the financial system of the future will be the intersection of CBDCs, stablecoins, digital wallets and cryptocurrencies.
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PayPal formed in February an advisory board for cryptocurrencies.
The company has previously started offering the ability to buy/sell Bitcoin and various other cryptocurrencies for US users. In April 2021, PayPal-owned mobile payments service Venmo launched a similar service.
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In addition, the company is reportedly exploring the possibility of launching its own stablecoin and cryptocurrency wallet.