Paypal made Bitcoin available for purchase and sale on its platforms in the second half of 2020
It is an era of upward trend for cryptocurrencies, since Bitcoin price keeps rising for new highs, the last price being $ 40,000. With PayPal reaching a record high in daily transaction volume, global interests in Bitcoin and cryptocurrencies appear to be skyrocketing.
A few months ago, the crypto community welcomed the leading financial services company based in the United States, PayPal, in the world of cryptocurrencies, when the payments giant came up with the development to add cryptocurrency trading to its services.
A “Data from ItBit” turnover, an exchange platform that handles PayPal’s crypto transactions, reveals that the company’s transaction volume for cryptocurrencies recently exceeded $ 125 million in just one day.
Since PayPal’s partnership with ItBit in October 2020, the exchange has experienced significant growth in its turnover, greater than normal.
This proves that, among the factors that sponsor a global recognition for cryptocurrencies, is the growing interest of more institutional investors in digital assets.
Therefore, the substantial volume of transactions impacted by PayPal created hopes that the company could play a significant role in boosting cryptocurrencies to achieve conventional adoption.
The updates and future developments expected from PayPal and its partner companies could represent a wave of welcome from new retail investors to the crypto community.
Expectations are that Paypal will offer cryptocurrency services to its 26 million merchants in the coming months; existing users will then be able to maintain Bitcoin through the platform easily.
The continued rise in Bitcoin’s price suggests that PayPal would surpass its new record of $ 125 million daily crypto transactions in the not-too-distant future.