Home>News>Economy>Cryptocurrency>PayPal & Robinhood Follow Revolut, Plan Crypto Withdrawals

PayPal & Robinhood Follow Revolut, Plan Crypto Withdrawals

Cryptocurrency
27.05.2021
129
PayPal & Robinhood Follow Revolut, Plan Crypto Withdrawals

Two major fintechs, PayPal and Robinhood are both looking set to follow in the footsteps of the likes of Revolut, with plans to allow crypto withdrawals to third-party wallets – a step that could see the platforms intensify their competition with crypto exchanges.

Christine Brown, Robinhood Crypto’s recently appointed Chief Operating Officer, told Decrypt that the feature was forthcoming, but stopped short of “setting a deadline,” adding that it was “a difficult tool to implement.”

Brown was also quoted as explaining that traders need to be “coddled into learning that crypto transactions are irreversible,” as well as educated about the risks of the decentralized finance (DeFi) industry and the price of gas fees.

She said:

“We want to make sure that we build an experience – not just the technical foundation of sending and receiving coins, but the user experience around it – that is intuitive, that makes sense, and that reduces risk for our users.”

Brown went on to claim that the next steps could see the platform turn into “a kind of financial super app,” similar to Coinbase, with staking and lending functions also in the pipelines.

Meanwhile, PayPal’s blockchain, crypto and digital currencies business unit lead Jose Fernandez da Ponte, said during Coindesk’s Consensus event:

“We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay. They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice.”

Da Ponte, like Brown, did not specify exactly when this new feature would be made available.

On Reddit, some users mused that the “good news” might “make PayPal a competitor to Binance and Coinbase” – particularly if the payments giant decided to add support for more altcoins.

– Fintech Heavyweights Revolut, Robinhood Gun for More Crypto Gains – Robinhood Suspected To Be a Dogecoin Whale As It Plans New Crypto Services

Author:cryptonews

Актуальные новости

07.05.2022, 04:30
167
US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform
31.08.2021, 08:00
302
Defi Platform Cream Finance Hacked, $29 Million Lost
12.01.2022, 10:47
211
Bitcoin exchange outflows see biggest daily spike since September 2021
08.11.2021, 18:13
231
Ghislaine Maxwell to challenge claims she groomed girls for Epstein to abuse
19.03.2022, 00:55
178
FreeTaxUSA Review 2022: Full Tax Prep for Bargain Hunters - CNET
31.12.2021, 09:46
179
Bitcoin gains $1.5K in under an hour as BTC price erases days of downtrend
04.10.2021, 12:26
157
Trump demands Pulitzer board rescind awards for Russia interference reporting
01.02.2022, 08:00
141
India to introduce 30% crypto tax, digital rupee CBDC by 2022–23
btc
$ 30223
-0.64%
eth
$ 2070.58
-0.47%
xrp
$ 0.435336
-0.47%
busd
$ 1.001
-0.02%
ltc
$ 72.83
-0.72%