Cryptocurrency is very popular in online investing and transactions. Cryptocurrency can be bought for money. However, too many payment platforms do not allow the transaction of these cryptocurrencies. PayPal has recently expressed its desire to offer this cryptocurrency service. News takegap
PayPal’s new service is going to be launched from next week. This service will be launched in full force at the beginning of 2021. After the news was published, the value of Bitcoin has exceeded 12 thousand US dollars.
For this, PayPal is considering acquiring the cryptocurrency company Bitgo. Bitgo offers cryptocurrency wallets as well as custodial services. It also offers crypto mining and transaction facilities.
Their wallets are multi-signature type. That means two or more signatures are required for a single transaction. As a result, its protection is much higher.
PayPal could spend 160 million to buy Bitgo. But PayPal is not the only one looking to buy Bitgo. They want to increase the number of subscribers to their cryptocurrency services by buying more crypto service providers.