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PayPal Dives Deeper Into Crypto

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A few months after PayPal management expressed confidence in the future of blockchain technology, global fintech company PayPal has expressed interest in investing in the NFT and Metaverse industries.

In an Oct. 25 blog post, intellectual property attorney Mike Kondoudis confirmed that PayPal filed two trademark applications with the United States Patent and Trademark Office (USPTO) on Oct. 18 related to NFTs and the Metaverse. did.

PayPal Joins the Metaverse

Fintech companies hinted at further investments in the Metaverse at CoinDesk’s annual consensus in June. At the time, PayPal’s blockchain manager, Jose Fernandez da Ponte, said he was bullish about the future of blockchain technology. he said:

“We build a bridge between the fiat and crypto worlds. Consumers will have access to the wider Web3 network through their PayPal wallet.”

At the same conference, PayPal CEO Dan Schulman said that “blockchain technology is slowly redesigning the future of the financial system.” The CEO added that it can offer a more inclusive future by eliminating middlemen so that users can move their funds faster and cheaper.

Kondoudis said PayPal plans to develop downloadable software for buying, selling and storing digital assets, software for managing and validating digital assets, and downloadable software that functions as digital assets. .

PayPal Creates NFT Marketplace

Other crypto projects include creating downloadable software that allows digital currencies, virtual currencies, blockchain assets, stablecoins, and utility tokens to be transferred between parties. In addition, PayPal plans to offer payment services for digital assets.

This isn’t the first time PayPal has extended its roots to the cryptocurrency industry. Earlier this year, PayPal introduced a new “Checkout with Crypto” feature, allowing users to pay with crypto when shopping online.

Early June, PayPal I started Allowing users to transfer digital assets such as Bitcoin, ethereumWhen litecoin Free money transfers from PayPal to the platform to external crypto addresses, including exchanges, hardware wallets and PayPal family and friends.

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