Inside a letter to the European Commission, PayPal has established its long-suspected interest fascination with cryptocurrency plus handed out ledger technology.
The sales copy, within response to the EC public discussion on setting up a framework for marketplaces found in crypto assets, confirms PayPal is “continuously monitoring and also evaluating global advancements in the crypto plus blockchain/distributed ledger space”.
The payments giant states it’s particularly excited about the way the technology can be utilized to improve fiscal inclusion and lower several “pain points” within the industry.
PayPal addresses its choice to back out of the Facebook led Libra stablecoin project, affirming that it’s shooting a “unilateral and tangible steps to further improve its capabilities in this area”.
No specifics are actually available but last month, citing industry sources, CoinDesk discovered that PayPal along with its Venmo unit intend to pour away strong cryptocurrency sales to the owners of its in just a few months.
The EC sales copy, sent in March, emphasizes PayPal‘s guidance for a harmonised EU way of licencing, demanding a “clear range of definitions” on various crypto tasks along with a technology neutral method of regulation.