July 14, 2020 PayPal is furthering its cryptoasset capabilities.

The online payments company, PayPal, is furthering its cryptoasset capabilities according to a letter the company sent to the European Commission in March. In the letter, PayPal stated that it has taken “unilateral and tangible steps to further develop its capabilities” in the area of cryptoassets and that it believes that the asset class and blockchain technology more generally can be used to improve financial inclusion and alleviate “pain points” in the existing financial services sector.