PayPal, World Top payment provider company, has stated that its users will not need to wait longer for great crypto functionalities app coming soon.
In a PayPal’s Q2 2021 investor update call, CEO Dan Schulman said that the initial version of the company’s Super App was code complete. According to the PayPal president, the company will expand its wallet (app) in the United States over the next few months.
Super app wallet will offer high yields and early access to direct deposits funds. It will also possess messaging, advanced encryption, and other features. Schulman stated that each wallet would be unique, and based on advanced AI and machine learning capabilities.
The CEO of PayPal stated that PayPal is one of few payment companies that allows consumers to use cryptocurrency for funding. “We also see active cryptocurrency adoption and trading on Venmo.”
According to PayPal’s Q2-2021 report, it has over 400 million active users accounts as of June 30, and $ 311 billion in payments.
PayPal announced earlier this month that it will increase the limit for crypto purchases for certain users located in the United States, from $20,000 up to $100,000