- PayPal’s stock has surged to about 17% right after it accepted Bitcoin payment on its platform.
- Additionally, PayPal achieved its success after it launched a crypto trading platform for US customers.
Online payment processor PayPal has announced a surge of about 17% in stock recently. Consequently, this came after it launched a crypto trading platform for the US community, as well as accepting Bitcoin.
Following this, PayPal’s recent surge illustrates a massive performance relative to Nasdaq as well as the broader US stock market. Meanwhile, months back, PayPal eyed Nasdaq’s 6.5% gains. The broad S&P 500 Index also capped 3.5% at the same time.
PayPal intends to add more innovative services for merchant-like and digital asset adoption not only within the PayPal community but to the entire world.
Notably, as days go by, there is evidence that the BTC price will impact Paypal’s prospects. On the other way round, PayPal is seen to have a greater influence on Bitcoin price.
Alongside the above-mentioned, PayPal will soon launch a global crypto service in 2021. The firm’s CEO Dan Shulman noted that PayPal will support central bank digital currencies (CBDC) in no time.
In terms of CBDC creation, China is leading the race. In fact, Chinese citizens in Shouzhou started receiving digital yuan as part of the country’s CBDC trial. Meanwhile, e-commerce giant JD.com became the first platform to accept the said digital currency.