PayPal exploring NFT market

[Castelione]

PayPal has recently explored NFT market. Do you think this puts them ahead the competition for other FinTech companies who haven't yet? Any insights?

 

[Kane]

I am not aware of this news. However, I know PayPal has released its own stable coins. Paypal is the most used payment gateway for businesses and individuals around the world and it has been toying with crypto for a long time. It was even envolved with Facebook's crypto project Libra, and later withdraw from the project.

 

[Riberet19]

The CEO of PayPal is indeed pro-crypto, and I am not surprised at all this news or that they launched their own stablecoin PYUSD, he already confirmed it last year when he debated at the World Economic Forum about the need and advantages of using cryptocurrencies in the global financial system, but they did not pay much attention at that time, I think PayPal will incorporate NFTs sooner or later to their platform and also a crypto exchange or some other interesting feature.

 

[saoussen57651]

So does it means with PYUSD you could pay PayPal invoice whiteout having debit card or a PayPal account because the concept seems a little be quite interesting for me.

 

[Riberet19]

So does it means with PYUSD you could pay PayPal invoice whiteout having debit card or a PayPal account because the concept seems a little be quite interesting for me.

Sure yes, although I haven't used it yet, although I think it's sold on many crypto exchanges as well, but if they want people to adopt their stablecoin, they have to give certain benefits on the platform by using PYUSD and also keep advancing its development and usability.

 

[Grant]

I'm not quite sure why they would be trying to jump into the NFT game, because I thought the whole craze was dying out. I really don't see NFTs sticking around for much longer.

 

[Riberet19]

NFTs can have real use, now that all the speculation around this technology is gone, serious projects can be developed around NFTs, I don't think NFTs are going to become extinct, proof of this is that many serious companies are innovating in the NFT world, Paypal is only one of them.

 

[saoussen57651]

NFTs can have real use, now that all the speculation around this technology is gone, serious projects can be developed around NFTs, I don't think NFTs are going to become extinct, proof of this is that many serious companies are innovating in the NFT world, Paypal is only one of them.

The missing feature on paypal is guest checkout with cryptocurrency then it could solve a lot of problems like purchasing connects on upwork without need zoombucks cards from survey or binance card but they only limit to US even if they explore in NFT.

 

[Riberet19]

The missing feature on paypal is guest checkout with cryptocurrency then it could solve a lot of problems like purchasing connects on upwork without need zoombucks cards from survey or binance card but they only limit to US even if they explore in NFT.

Well, we already know how bureaucratic PayPal is, that's why I use it so little, but I think that over time, it will adapt to new technologies and cryptocurrencies, in fact the CEO of PayPal spoke very positively about blockchain technology and cryptocurrencies at the Davos forum, it is seen that he wants to adopt them in the near future, but surely he has opposing forces that won't let him act, who knows.

 

[saoussen57651]

Well, we already know how bureaucratic PayPal is, that's why I use it so little, but I think that over time, it will adapt to new technologies and cryptocurrencies, in fact the CEO of PayPal spoke very positively about blockchain technology and cryptocurrencies at the Davos forum, it is seen that he wants to adopt them in the near future, but surely he has opposing forces that won't let him act, who knows.

In big administration that is very bureaucratic the decisions takes longer time than usual to take effect that is the sad part especially it needs a lot of agreement to pass a functionality and acceptance of all of the parts or forces to change their behavior for example.

 

[Riberet19]

At least one of the first steps has already been taken, and PayPal I think wants to take more steps towards crypto adoption, if we lived in an idyllic world, surely PayPal would already be offering large-scale cryptographic services, but it is not so, at least they already have their own stablecoin and NFT services, let's remain optimistic about it.

 

[linux.poet]

Do you think this puts them ahead the competition for other FinTech companies who haven't yet?

Paypal is not a FinTech company; FinTech means that the company is based in Finland. Paypal is an American company.