PayPal has added support for cryptocurrencies which include Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Stellar Lumens (XLM) and Cardano (ADA) were not on the list, but there is a high probability that it will be added next. Here’s why.
PayPal’s cryptocurrency partner, Paxos offers Stellar Lumens (XLM), Cardano (ADA), Bitcoin, Ethereum, Litecoin, Bitcoin Cash and PAX Gold on the exchange for trading for custody. This information can be confirmed on their Paxos’s terms and conditions page.
The webpage also mentions that XLM and ADA are available for trading OTC (over the counter) as-well-as custody with company and for withdrawal. All aforementioned crypto assets, BTC, ETH, LTC, BCH, PAXG, including Stellar Lumens (XLM) and Cardano (ADA) were approved for customers of Paxos Trust via specific approval from the New York State Department of Financial Services (NYDFS).
This means there is a high probability Stellar and Cardano are the next cryptocurrencies to launch on PayPal after the initial four cryptocurrencies, BTC, ETH, LTC, BCH are released with the service.
Stellar Development Foundation (SDF) has been working closely with the regulatory bodies to bring cryptocurrencies to the masses. Denelle Dixon, CEO of SDF, recently spoke at Capitol Hill about uses of blockchain in financial services and at IMF 2020 on cross-border payments.
