Payment giants and their love towards digital assets
Today cryptocurrencies occupy one of the leading positions in the field of digital payments. All thanks to the convenience, privacy and security of digital assets. Bitcoin and altcoins still have many drawbacks, but so far their advantages are more attractive in the eyes of both ordinary investors and large organizations.
Among the latter are 4 most popular payment systems, which have started working with cryptocurrencies and push their adoption to the market:
British fintech-startup Revolut gave the opportunity to buy and sell cryptocurrencies to all its clients. Earlier this option was available only for Premium and Metal class clients. For transactions with digital money a fee of 1.5% is charged per transaction.
Representatives of the startup noted that the reason for this decision was the economic crisis caused by the coronavirus pandemic. Clients should be able to diversify investments in conditions of “unprecedented economic turbulence” and due to the risk of currency devaluation, the company explained.
Recently it became known that PayPal customers will get wallets to store cryptocurrency, as well as the opportunity to buy and sell it directly through PayPal and its company Venmo. It is expected that new features may appear in the next three months or earlier. The company has not confirmed or denied these rumors.
Last November, PayPal left the Libra Association. The CEO of the payment system emphasized that it was decided to abandon the creation of the Libra ecosystem in favor of its own development.
In mid-June 2020, the service continued to expand its staff. PayPal is looking for a technical director for crypto development. He will create and maintain crypto related products/functions responsible for improving system availability, performance and scalability. The company has also published a vacancy for blockchain developers who will be interested in joining the research unit.
Square earned $125 million from Bitcoin trading fees in the second quarter of this year. For the same period in early 2019, revenue was almost halved, at $65.5 million, according to the financial statements published by the company.
Total revenue of Cash App, through which Bitcoin is sold, amounted to $260 million in the second quarter. At the same time, the cost of buying the asset amounted to $123 million.
Previously, the Ingenico Group, a global leader in payment sector and Fintech’s Singapore-based company Pundi X announced an important event in the global implementation of crypto payments, Pundi X has completed the integration of its XPOS software with all points of sale (POS) using the Ingenico APOS A8 device.
Through this partnership, sellers around the world using APOS A8, the Android-powered Ingenico portable POS solution, will now be able to accept a variety of cryptopayments as payment options and provide consumers with more secure and seamless transactions based on blockchain technology.
As shown by these payments giants, blockchain and crypto are making their way towards the mainstream. With rising popularity cryptocurrencies like Ethereum will constantly grow in price. You can get profit from this trend by participating in our fair crypto lotto Ethex.bet!