As crypto goes mainstream, this global payments giant could be one of the biggest beneficiaries.
While many investors may not realize it yet, PayPal Holdings, Inc. (PYPL 0.32%) has been steadily laying the groundwork to profit from any future scenario in which cryptocurrencies play a major role in digital payments worldwide. The biggest step, of course, was the company's decision in October 2020 to enable users to buy, hold and sell a handful of cryptos, including Bitcoin (BTC -4.87%)directly via the PayPal platform. At the time, the decision was widely hailed as proof that crypto was going mainstream.
Despite a pullback in the broader crypto market this year, PayPal seems determined to march ahead with its decision to embrace the crypto future of digital payments. At this year's World Economic Forum in Switzerland, PayPal was very bullish on the launch of new cryptocurrency and blockchain services.
Where is PayPal now with crypto?
Right now, there are two key components to PayPal's...
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