Published on May 17th, 2018 | by bitcoin0
According to the Chief Financial Officer of Paypal, Volatility is Causing a Lack of Interest Amongst Merchants
PayPal CFO John Rainey said in an interview with CNBC May 16, that the company doesn’t see much interest in digital currencies because price volatility threatens the viability of their merchants’ businesses.
Centralized payment service PayPal was a pioneer in accepting cryptocurrencies.
Merchants could opt-in to accept Bitcoin (BTC) on the platform as far back as 2014, when BTC was worth around $400.
The latter statement supports PayPal’s patent filed in March, which aims to speed up cryptocurrency transaction times.
Today, Square CEO Jack Dorsey expressed optimism toward digital currency adoption on a global scale.