Fintech company PayPal has just announced it intends to roll out its own cryptocurrency wallet in the US over the next few months, Dan Schulman, the company's CEO, said following PayPal's second quarter earnings call.
Notably, the company's CEO said in February PayPal intends to turn its app into a financial super app like Alipay and WeChat Pay. As a result, it could include investment services, high-yield savings accounts, and check cashing services and other instruments.
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In addition, Decrypt reported the following month that with this new app PayPal intends to offer services other than "buying, selling and storing" cryptos.
Now, Schulman has reported the company's experts have already completed the development of the code for the "initial version" of PayPal's cryptocurrency wallet, which will be integrated into the superapp.
The wallet is expected to be launched in the US "in the coming months."