PayPal CEO Says Cryptocurrency Will Revolutionize the Financial System

During an Axis Tel Aviv video conference, Dan Schulman, who is the CEO of PayPal and a proponent of cryptocurrency, shared his thoughts on cryptocurrencies, stating that he sees a bright future for crypto and believes that blockchain will provide new opportunities in the financial sphere:

“The intersection between CBDC, stable coins, digital wallets, and enhanced utility of payments through cryptocurrencies is not just fascinating, but I think will redefine a lot of the financial world going forward.”

However, Schulman doesn’t regard the value of Bitcoin, or any other cryptocurrency, to be the main focal point. Instead, he prefers exploring how digital assets can impact the current financial system.

“I’m very excited about what crypto and digital ledger technology can do to the financial system going forward. I think the initial things that everyone thinks about crypto, buying and selling it, and what the price of bitcoin is going to be tomorrow, that’s the least interesting part about digital currencies to me,”

he explained.

PayPal, founded by renowned crypto advocates such as Peter Thiel and Elon Musk, became a pioneer in online financial services and advanced traditional payment methods in the late 90s.

PayPal is now looking to progress even further – the fintech company recently revealed the development of its own cryptocurrency, a stablecoin possibly pegged to the U.S. dollar.

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