PayPal will partner with Paxos to launch cryptocurrency trading

The payment company PayPal plans to make cryptocurrency trading available to its customers and has chosen Paxos as the digital asset supply Manager for the new service.

According to sources familiar with the situation, details of the cooperation between PayPal and Paxos will be known later this week. If the initiative is implemented, PayPal will become one of the most famous companies offering cryptocurrency trading.

It is not yet known which cryptocurrencies PayPal plans to offer its customers. In the second half of June, it was reported that the payment company and its mobile payment service Venmo intend to provide their 325 million users with the opportunity to directly purchase cryptocurrencies.

In addition, it was reported that the company’s partner may be Coinbase or Bitstamp. This month, PayPal announced That it is exploring the cryptocurrency space and “is developing and implementing cryptocurrency capabilities.” The corresponding statement was made in a letter to the European Commission.