Paypal announces plans to expand cryptocurrency services with” super app ” and open banking integration

Payment giant Paypal has unveiled plans to expand its cryptocurrency services, including a new “super app” for wallets, open banking integration, UK expansion and transfers through third-party wallets. “We are still very happy with the dynamics we are seeing in crypto and of course we are adding October features,” said the PayPal CEO.

Paypal unveils crypto plans,” super app ” details”
Paypal CEO dan Shulman described the company’s crypto plans and progress in the upcoming “super app” during a second-quarter revenue payment giant conference call on Wednesday.

“I am pleased to report that the first version of our new Super consumer wallet app has been completed and we are now slowly starting to pick up speed,” Schulman began.:

Among the new features, high yield savings, direct deposit funds early access to new features and improved bill payment, P2P messaging capabilities in order to communicate with family and friends outside of special deals and offers encryption capabilities and additional services.

“Each wallet will be uniquely managed by our advanced artificial intelligence and machine learning capabilities to enhance each customer’s experience and capabilities,” he added.

“In the coming months, we plan to take a full step forward in the U.S. by launching a large number of payment products and services, core Consumer Financial Services, and trading and trading tools every quarter,” the CEO said.

In the Q & A section, Barclays Investment Bank analyst Ramsey El-Assal asked the CEO’s updated opinion on crypto and blockchain, and how PayPal can plan to deal with the ecosystem in terms of consumption.

Shulman replied: “We’re still very happy with the dynamics we’re seeing in cryptography, and obviously we’re adding October features to that.”The executive also noted that PayPal recently increased its weekly cryptocurrency purchase limit to $ 100,000 and removed its annual A limit.

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