Meltem Demirors: “PayPal can launch its cryptocurrency within a year

Meltem Demirors, Director of strategy at CoinShares, believes that PayPal’s next step after adding support for cryptocurrencies may be to launch its own coin.

In
CNBC’s Fast Money program Meltem Demirors commented on the recent news that PayPal will provide an opportunity to buy and sell bitcoin and major altcoins on its platform. She believes that the payment giant will not stop there and will develop its own cryptocurrency.

Demirors recalled that PayPal has a mobile payment service Venmo with an audience of 300 million users. Most of these users are millennials, and this age group prefers bitcoin to other types of investments.

In the case of the popularity of cryptocurrencies on PayPal, the company may well launch its own cryptocurrency. Moreover, the payment system previously participated in the Libra stablecoin project, although it quickly left
the association.

“I think that all these steps were an omen of the launch of PayPal’s own cryptocurrency. I would not be surprised if in 6 or 12 months we will see the launch of such a coin. Most likely, it will be an analogue of the digital dollar, ” Demirors said.Thus, Meltem Demirors expects PayPal to launch a stablecoin pegged to the US dollar. Rumors about plans to add the possibility of direct purchase of cryptocurrencies on PayPal and Venmo appeared
back in June.