PayPal is planning to let its customers withdraw cryptos to third-party wallets, says its blockchain lead.
Jose Fernandez da Ponte, on Wednesday at Coindesk’s Consensus 2021 conference, told Jeff John Roberts that a crypto withdrawal option is in the making. At the moment, PayPal is only letting users buy bitcoin and other major cryptocurrencies, since October 2020.
Specifically, da Ponte stated: “We wish to make it as open as possible, and let customer pay the way they want to”. “They want to bring the crypto to PayPal and use it and we want to make it easier for them, taking it to the destination of their choice”.
Rumours on PayPal coin
When asked if PayPal would launch its own stablecoin, da Ponte said that it is “way too early”.
Since vice president of PayPal has already met with central bankers worldwide, an executive editor of Decrypt, probed da Ponte about CBDCs and stated that it “makes sense for banks to have their own tokens”. He also commented that when it comes to CBDCs, a lot has been said, but there are few codes written.
It is noted that, since PayPal allowed purchases through the crypto platform, people seem to be logging in twice as they would normally do.