The payment giant PayPal was reported to be considering entering the shares trading industry.
News of this development arrived from news outlet CNBC. The official report mentioned that the payments giant is still in the process of thinking of introducing a stick-trading platform that would be available to US clientele.
Richard Hagen Jr, the ex-president of Ally Invest, hinted in his LinkedIn account that he is currently holding the CEO position at Invest at PayPal. Allegedly this mystery firm is tackled with the job of exploring opportunities for investment businesses for consumers.
CNBC further revealed that PayPal had already passed the phase of communicating with big “industry partners”, yet the eventual launch of the platform is still a myth at this point in time.
Rumors circulating news outlets suggests that the company will be partnering with broker in order to facilitate the shares-trading platform.
It seems that PayPal has been in mission of massive expansion that commenced with its cryptocurrency services that were introduced last year. Currently, any PalPal user can freely purchase up to $100 000 worth of crypto assets.
The company commented that it has been trying to accommodate to its clientele needs and practices. It will continue to provide a safe and effective platform where users can buy, sell, and hold crypto derivatives.
