Coin News

Rumours: PayPal Adding Bitcoin Purchases To Its Platform

Amid rumours that PayPal is exploring the potential for cryptocurrency purchases, the company has made moves to hire blockchain experts.

At a time when crypto-rumours are milling, PayPal has made the move to add cryptocurrency and blockchain experts to its team. While unconfirmed, it has been alleged that the giant global payments system is looking to add Bitcoin and other cryptocurrency purchase features to its platform.

PayPal’s Public Listing For Crypto Engineer

The company’s first listing of note showed that it is hunting for a new “Technical Lead – Crypto Engineer.” Describing someone who will be focused on “designing, developing and maintaining key crypto products/features targeted towards availability, performance and scalability of PayPal services”, the evidence points strongly towards the potential to integrate new cryptocurrency features to its platform.

PayPal Adding A Blockchain Research Engineer To The Team

Another listing on the company’s hiring page showed the company’s search for a blockchain research engineer. This person would work with the company’s research group, as listed:

A newly formed group within the Strategic Technology Enablement team chartered with establishing expertise and opinions on emerging blockchain technologies and their potential uses within PayPal.”

Earlier this month, Coindesk reported that an unnamed source hinted that PayPal and Venmo would be adding cryptocurrency services to their features, telling representatives:

“My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo. They are going to have some sort of a built-in wallet functionality so you can store it there.” 

While PayPal declined to comment on the legitimacy of the rumours, a second source offered confirmation that PayPal will be exploring the services to offer digital currencies transaction, including the buying and selling of cryptocurrencies, saying that the service could be expected “in the next three months, maybe sooner.”

PayPal Chief Technology Officer Sri Shivananda also told the media house earlier this year that the company wanted its own “perspective and view on [blockchain] technology itself to see how it can help us contribute to the concept of creating an open digital payments platform that can serve everyone.” 

Posted: Oct 30, 2020 Author: Becky Categories: Coin News