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Not Wasting Time: PayPal Reportedly Considering to Buy Crypto Companies, Including BitGo

Summary:
PayPal, the world’s largest online payment processor, is reportedly exploring acquisitions of cryptocurrency-oriented companies. Citing sources familiar with the matter, Bloomberg reports that this includes the popular Bitcoin custodian BitGo. The sources also revealed that PayPal has been in talks with BitGo, and it could potentially reach a deal “within weeks.” However, the negotiations could still “fall apart,” and, in this case, PayPal could choose to buy other companies. At the time of this writing, PayPal and BitGo haven’t provided official statements on the matter, and it’s not clear how much would the payment processing giant pay for the acquisition of BitGo, should the deal move forward. This comes a day after PayPal announced that it would enable its customers to

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  • PayPal, the world’s largest online payment processor, is reportedly exploring acquisitions of cryptocurrency-oriented companies.
  • Citing sources familiar with the matter, Bloomberg reports that this includes the popular Bitcoin custodian BitGo.
  • The sources also revealed that PayPal has been in talks with BitGo, and it could potentially reach a deal “within weeks.”
  • However, the negotiations could still “fall apart,” and, in this case, PayPal could choose to buy other companies.
  • At the time of this writing, PayPal and BitGo haven’t provided official statements on the matter, and it’s not clear how much would the payment processing giant pay for the acquisition of BitGo, should the deal move forward.
  • This comes a day after PayPal announced that it would enable its customers to buy, sell, and hold Bitcoin and other cryptocurrencies on its platform.
  • As CryptoPotato reported, the company is “working with central banks and thinking of all forms of digital currencies.”
  • It’s worth noting that PayPal will initially allow US-based customers to opt in to buy and sell crypto within the “coming weeks.” Accounts registered in other countries should be able to do so in the first quarter of 2021.

Featured image courtesy of PYMNTS

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