Bitcoin on PayPal 

PayPal announced a monumental partnership that will likely play a large part in the adoption of bitcoin throughout the world. The company has partnered with BitPay, Coinbase, and GoCoin to provide bitcoin support to the millions of PayPal users.

The first project consists of integrating with the company’s Payments Hub, which is likely to be a small piece of the puzzle in the future relationship between PayPal and the leading Bitcoin payment solutions providers. Initially, digital goods merchants in North America will be able to accept bitcoin through the Payments Hub, and depending on popularity, may allow merchants around the globe to do the same.

PayPal announced in its press release, “We chose to work with BitPay, Coinbase and GoCoin because of our commitment to offering innovative and safer ways for businesses to accept payments. All three companies have taken steps to ensure that they know their customers and that those customers are offered certain protections. We believe digital goods merchants will be excited to work with these industry-leading companies to sell ringtones, games and music and get paid with Bitcoin.”

This news does not necessarily mean that PayPal is adding the cryptocurrency into its digital wallet, nor does it mean that Bitcoin payments will be processed using its platform. Instead, this appears to be a foray into what has quickly become the most popular digital currency. If growth is noticeable, however, PayPal could be rolling out bitcoin support throughout other services.

Source: bitcoinmagazine- Bitcoin on PayPal

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