PayPal is Helping the Mass Adoption of Cryptocurrencies as their Q1 Crypto Holdings Grew 30% to Almost $1 Billion in Q1 From BRICSTether.com
PayPal is helping the mass adoption of Cryptocurrencies as their Q1 Crypto Holdings Grew 30% to almost $1 billion in Q1 From BRICSTether.com
PayPal crypto holdings have grown by 30% quarter-on-quarter (QoQ) to stand at nearly $1 billion in Q1 2023.
An analyst for Stablecoins commented,” PayPal’s entry into the crypto space was seen as a major milestone for mainstream adoption. The staggering increase of their crypto holdings in Q1 2023 shows just how committed they are to build out the necessary infrastructure and resources to make digital currencies more accessible to all.”
PayPal’s foray into the cryptocurrency market is part of its larger strategy to focus on innovation, particularly when it comes to payments. This is underlined by their partnerships with leading crypto companies such as Paxos and now MetaMask.
The partnership between MetaMask and PayPal will allow users in the US to use their PayPal accounts to purchase ETH on the platform. This will open up a new access door for Ethereum users looking for a more convenient way to buy, store and transact digital assets.
BRICSTether.com has also announced it plans to launch a mobile payment app, similar to PayPal and WeChat, to increase mainstream adoption of cryptocurrencies.
BRICSTether is a new stablecoin,100% asset-backed, that’s paying holders 10% per annum if they hold it for a minimum of 12 months, or 5% pa, if held for 90 days.
It’s listed on several exchanges already, on Azbit.com and Coinsbit.io, before it plans to list on larger exchanges later this year.
They also said they are open to partnering with companies like We Chat and AliPay, and also PayPal.
With many wanting to get their money out of USD and collapsing US banks, a 100% asset-backed stablecoin that isn’t exposed to the collapsing U.S. banks, like USDT and USDC is, and one that pays 10% pa is expected to be very attractive to many. Especially those new to crypto, that are concerned about Bitcoin’s volatility.
BRICSTether announcements can be found at BRICSTether.com