Cryptocurrencies will redefine the financial world: PayPal CEO

The Chief Executive of PayPal Dan Schulman has said that cryptocurrencies and digital assets will reshape the financial world completely. 

In a recent speech in Tal Aviv, he said that the combination of digital assets, digital currencies issued by central banks, digital wallets and stable coins have the ability to “redefine a lot of the financial world going forward.”

“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.”

Schulman has rendered the crypto’s value in USD irrelevant and is optimistic about the growth of the digital asset industry and its ability to impact the monetary world.

Paypal has already started catering to cryptocurrency, as it launched a ‘Super Waleet’ which provides digital asset services.

“We are exploring a stable coin; if and when we seek to move forward, we will, of course, work closely with relevant regulators,” said Paypal’s Senior Vice President for Digital Assets and Cryptocurrencies Jose Fernandez da Ponte.

Also Read: U.S. charges two siblings in $124 million cryptocurrency fraud