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February 12, 2021Blog Posts

PayPal Wants to Be a CBDC Distributor

Coindesk

PayPal could be to central bank digital currencies (CBDCs) what private banks are to physical dollars.

The company’s CEO, Dan Schulman, laid out a vision during its investor day on Thursday for PayPal’s digital wallets being the means by which central banks distributed CBDCs to consumers across income levels. 

“You think about how many [digital wallets] we’re going to have in the next two, three or five years, and we’re a perfect complement to central banks and governments to distribute those digitized forms of currency,” Schulman said. 

Image result for paypal logo

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Looking for information about how COVID-19 has impacted the payments industry?

The Strawhecker Group (TSG) and Visa Consulting & Analytics (VCA) teamed up to survey a representative sample of U.S. consumers, and analyzed Visa’s proprietary spend data, with the goal of understanding how the COVID-19 pandemic has impacted consumer lifestyles, payments trends, and how behaviors may change after the pandemic.

Click here to download TSG and Visa’s infographic, Purchasing in a Pandemic.

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