Is PayPal’s crypto move a game-changer for bitcoin? Probably not, say experts


FILE PHOTO The PayPal logo is seen during an event at Terra Gallery in San Francisco California May 21 2015.  REUTERSRobert GalbraithFile Photo

PayPal’s decision on cryptocurrency could help the company attract new users in an increasingly competitive digital payments landscape where innovation is king, the experts said. — Reuters

LONDON: PayPal Holdings Inc’s decision to open its network to bitcoin and its rivals was hailed by virtual coin enthusiasts as a watershed moment for cryptocurrencies and their path towards becoming a widespread means of payment.

But the move might do little to drag existing cryptocurrencies out of their niche in payments, according to many fintech specialists, as holders of such coins often view them as an investment asset akin to gold rather than as a means of spending.

Subscribe now and get 30% off The Star Yearly Plan

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.


Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a subscriber? Log In