This even though in fact cryptomoney and Bitcoin do not need such an intermediary to exist or function. But the share of still hesitant users who might take the step is the real point to be taken into account here.
« Basically, Square offers crypto as a service and they’re making the market, but they’re not really tagging it. Trading is interesting, but not as interesting for us as a payment acceptance device. We have an incredible volume of merchants. « Dan Schulmana, CEO of PayPal.
Integration in a few months
It seems therefore that Paypal will open the possibility to make payments directly with some cryptomoney by the end of the first quarter of this year. This with a margin of progression on this sector which according to its estimates could reach 2 billion dollars of turnover in 2023. And reach its current 29 million merchants.
A record progression which encourages other players such as the Binance platform to enter this market to try to compete with Paypal. This with an application called Binance Pay which is already available in beta version on the exchange and integrated into its payment card. All of this is being driven by a Visa boss who says he has been working with regulators and central banks to shape the « next generation of the financial system. »
How the path to the actual adoption of cryptography can sometimes take unexpected detours!