PayPal Picks Paxos to Supply Crypto for New Service, Sources Say
PayPal has chosen Paxos to handle the new service’s supply of digital assets, according to two people familiar with the matter.
Cash App
Previously, Cash App had only allowed clients to get U.S. currency back on transactions.
With bitcoin’s price hitting a new all-time high on Monday, retail investors will inevitably want to get in on the original crypto asset.
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When demand from these two sources alone exceeds the entire supply of newly minted bitcoins, expect serious supply pressure to follow.
"Cash App generated $1.63 billion of bitcoin revenue and $32 million of bitcoin gross profit during the third quarter of 2020."
Cash App
