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If the payments company moves ahead with a digital currency rollout, its network of merchants and consumers as well as its retail-payments focus could give it the upper hand over banks, whose products are limited to cryptocurrency exchanges, wholesale payments and other specific uses.
The proceeds will support Silvergate’s network that facilitates cryptocurrency transactions and a leveraged lending product that provides loans collateralized by bitcoin.
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PayPal s super app escalates battle against banks, fintechs americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.