PayPal's Crypto Plans Revealed

Plus debate around CME ETH futures

Happy Thursday, Blockfolians

The Lede

It’s earnings week on Wall Street, which means for us, we got a chance to hear from PayPal about how their crypto services launched last fall are actually going.

To be honest, the brass tacks numbers were a little hard to ascertain. PayPal added 16m new accounts in Q4, and saw transaction revenue increase 12% to $5.7B - although we’re not sure how much of that came from crypto.

More important was this nugget from CEO Dan Schulman in the earnings call: customers who purchased crypto have been logging into PayPal 2x as frequently as they were before.

Even more importantly? PayPal is creating an entire new business unit for crypto and is intending to start rolling out crypto as a payment option across their 26m global merchants later this quarter.

In short: big things coming.

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Community Commentary

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