PayPal stock: Crypto offensive! | The variegated fool’s Germany

In it PayPalThe share (WKN: A14R7U) Cryptocurrencies have played a major role for more than two years. Management has recognized, even with competitors like Block, that these digital assets simply have some popularity. They were immediately included in their own repertoire.

However, PayPal is an ecosystem that management wants to consolidate. Therefore, cryptocurrencies like Bitcoin or Ethereum could only be transferred within one’s own ecosystem for a long time.

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It’s obviously over now. At least according to a report by the news agency Reuters. However: only in one market. Let’s look at the details and why this is crucial.

PayPal shares: Crypto extensions!

As the management of the PayPal stock has now apparently decided, the exclusivity is over. In the future, cryptocurrencies should also be able to be traded outside their own ecosystem. Specifically, this means that the digital assets can also be transferred from your own wallet to a third-party platform.

It is based on the customers’ wishes, as it is also said. However, the change would only affect US users, as the news agency Reuters further reports in this context. But still: This is a beginning to open up in the crypto space.

Buying and holding cryptocurrencies is, of course, a growth market for PayPal stocks. But by transferring to other platforms, the exclusivity is partially lost. Nevertheless, I am convinced that this is the right move.

Why this matters!

To me, PayPal’s stock management overlooked one thing from the start with this exclusivity: Crypto followers are not just about buying. Maybe in parts about speculation and possible increases in value. But primarily free trade is also in the foreground. Limitations regarding one’s system are definitely barriers to avoid. At least if you want to play a bigger role in this market.

That PayPal has now decided to release its own cryptocurrencies to other platforms comes late. But it is the logical step if you want to play a bigger role in this market. It must be seen whether the calculation holds.

It is at least a good move that can at least attract other interested parties. At least I think the PayPal name can be one that inspires a lot of trust. And through which customers who may not be involved here want to venture out into the crypto space. Now this is possible without major barriers.

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Vincent owns shares in PayPal. The Motley Fool owns shares in and recommends PayPal.

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