The CEO of payments giant Paypal, Dan Schulman, has revealed that the demand for cryptocurrencies has been “multiple-fold” of his company’s initial expectations. Paypal’s Venmo recently began rolling out cryptocurrency features to enable Venmo users to buy, sell and hold cryptocurrencies, including bitcoin.
Demand for Cryptocurrencies Exceeds Paypal’s Expectations
Paypal CEO Dan Schulman talked about cryptocurrency, particularly bitcoin, in an interview with Time Magazine, published Sunday. Paypal is present in more than 200 countries and deals in more than 100 currencies. Last year, the company processed 15.4 billion payments, with a value of $936 billion. The company has about 30 million merchants in its network.
Schulman began by sharing his story of how he used Paypal’s crypto service to buy boots and paid for them with bitcoin. Noting that it only took a few clicks and a few seconds to buy with the cryptocurrency, he said that “It was pretty cool.” A big initiative of his company is “helping