The Bitcoin PayPal announcement caused uproar in the crypto world and catapulted BTC towards the $13,000. Following this positive news, CoinShares CEO Meltem Demirors spoke in a CNBC interview about the groundbreaking event. However, Demirors does not only focus on Bitcoin, but also on another aspect:
Will there even be a separate PayPal crypto currency in the next 6 to 12 months?
PayPal includes Bitcoin in its portfolio
In a recent CNBC interview, Demirors talked about the news of the month: PayPal will in future allow its own customers to buy Bitcoin with other leading Altcoins (Ethereum, Litecoin and Bitcoin Cash).
Demirors expressed her view that PayPal had only started the first gear with this manoeuvre. She said that she believed that PayPal was planning further steps and had more than just Bitcoin in mind.
Demirors takes this view, since PayPal and Venmo appeal in particular to a clientele that is technically affine and therefore well suited to the target group of crypto currencies. Demirors describes the approximately 300 million active customers as the classic target audience of Bitcoin.
And so we at Cryptomonday have already repeatedly shown that the younger generation of millenials in particular has a high affinity with Bitcoin. But let’s come back to PayPal and their own plans.
Will the launch of an own crypto currency follow?
Demirors now also said that she assumes that PayPal will also issue its own crypto currency. Considering the immense number of customers, the US payment giant will probably not leave the field to Bitcoin and Co.
This idea becomes more realistic, especially if one considers once again that PayPal was actively involved in the Facebook Coin Libra. So the company has already shown interest in a stable and digital currency in the past.
And so I believe that this paves the way for PayPal to launch its own crypto currency. I wouldn’t be surprised if we see a PayPal crypto currency of our own in the next 6 to 12 months, similar to the digital dollar we already know from other companies.
So let’s summarise that Meltem Demirors assumes that the US giant PayPal will most likely launch its own USD-based Stablecoin.