Technology
PayPal Claimed to be in Crypto Companies Purchase Negotiations, like BitGo: Bloomberg
PayPal explores the transactions of blockchain firms, including bitcoin custodian BitGo, Bloomberg wrote, quoting people who are familiar with the matter.
- The announcement comes a day after the payment giant revealed it was entering the cryptocurrency market.
- BitGo was the first U.S. crypto firm to secure broker-dealer clearance, transfer agent registration and trust company certification, enabling it to offer custody and record-keeping services.
- Provided that the mechanics of PayPal 's latest crypto service will essentially make it a custodian, the company's stated interest in BitGo would be clarified.
- Talks could also break apart and PayPal could want to buy other targets, Bloomberg said to one of his sources.
- BitGo CEO Mike Belshe refused to comment on the article. An email to PayPal asking for a comment was not immediately replied.
