PayPal has announced its own cryptocurrency wallet

PayPal has announced its own cryptocurrency wallet

The payment provider has announced the launch of a new cryptocurrency-related mobile application.

According to PayPal CEO Dan Shulman, the program’s engineers have already finished work on it, and it will be available to US citizens in the coming months. YellowBlock alerted us about this.

It is envisaged that users will be able to interact with high-yield savings accounts, make investments, and even send and receive messages via the app. The CEO also stated that each wallet in the service would be unique since it will be powered by artificial intelligence and machine learning.

Late last year, PayPal began trading cryptocurrencies. The Financial Services Department of New York, one of the country’s biggest national financial authorities, granted the firm the first conditional Bitlicense license to operate the service.

Cryptocurrency transactions are now only available in the United States, but the service intends to collaborate with central banks across the world to make the service open to all platform users.

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