The Payment Giant Continues Its Research In The Crypto Money Sector
According to Coindesk's report, PayPal 's negotiations on its acquisition of Bitcoin custodian BitGo failed.
The Payment Giant Continues Its Research In The Crypto Money Sector.
PayPal was investigating the possible acquisition of cryptocurrency companies, including BitGo, according to a Bloomberg report released in October. BitGo CEO Mike Belshe did not confirm whether the PayPal report was accurate in an interview with Fortune. However, he said that over the years BitGo has been in talks with many institutions and will not accept a small exit. Sources told Fortune that PayPal is investigating other potential acquisitions.
Providing custody and record keeping services to its users, BitGo is the first cryptocurrency company in the US to have a broker-reseller approval and transfer agent registration. Following its announcement on October 21, PayPal initiated cryptocurrency trading as well as cryptocurrency payments .