PayPal iswidely used around the world, will start accepting bitcoins soon.
«We announce the first «involvement» of PayPal with Bitcoin,» said Bill Ready, head of the Braintree unit of eBay. During his speech at the Techcrunch Disrupt SF conference, Ready added that in the coming months they should start accepting transactions in bitcoin.
The «camouflaged» move of PayPal, seems to be very clever at this moment. It does not accept the digital currency directly but through a subsidiary company. This does not legitimize the currency, but does not expose the company either, at least until the matters are clarified. On the other hand, the company's officials probably could not «see» a flood of money flowing and not have access.
Braintree is a payment processor for mobile and websites and will partner with payment sites Coinbase and Bitcoin to process transactions with digital currencies. The service is already used by Uber, Airbnb and StubHub, but is available for the over 150 million users that PayPal currently has.
It is a fairly exciting development, given that it will become possible for some of the fastest-growing applications to use cryptocurrency seamlessly. Also, it makes it more feasible for PayPal itself to integrate Bitcoin in the near future.
For those who do not know, Braintree was purchased by eBay for 800 million dollars in 2013 in an effort by the giant company to expand the business into mobile transactions.
We should note that Bitcoin has started to become accepted worldwide. Governments have begun to revise their views on the matter. Some are quite lenient, but there are still many that have permanently banned Bitcoins due to their volatility.
Source: secnews.gr
