PayPal's steps to introduce payment services in physical stores in Germany using the PayPal app on iOS and Android devices with support for contactless Mastercard payments mark an important milestone in the adoption of digital payments. This allows users to conduct transactions more easily and efficiently at supported merchants.
Impact on Crypto:
- Increased Adoption: With more users utilizing PayPal's digital payment services, the adoption of cryptocurrencies such as Bitcoin, Ethereum, and Litecoin is also likely to increase, especially as PayPal has shown interest in cryptocurrencies by allowing users to buy, sell, and hold digital assets.
- Crypto Integration: PayPal has launched the "Checkout with Crypto" feature that enables customers to use cryptocurrencies for payments at millions of online merchants worldwide. This move can encourage the use of cryptocurrencies as a legitimate and efficient payment method.
- Expansion of Crypto Services: PayPal also plans to expand its cryptocurrency services to international markets and partner with more merchants to accept crypto payments, thus creating a more inclusive and accessible crypto ecosystem.
Development of PayPal Services:
- Partnership with Coinbase: PayPal has also partnered with Coinbase to provide broader access for crypto users in Germany and the UK, allowing users to buy and sell crypto using credit cards linked to PayPal.
- PayPal Stablecoin USD (PYUSD): PayPal has also added the stablecoin PYUSD to its trading list, providing more options for investors looking to hold or withdraw crypto assets.
