December 6, 2022

Is Digital Dollar an end to Companies Like PayPal?

2 min read

Is Digital Dollar an end to Companies Like PayPal?

Digital Currency can change the way society thinks of money. The rise of cryptocurrencies such as Bitcoin, Ethereum, and thousands of other cryptocurrencies have awakened the reserve banks, who discovers their existence threatened by these brand-new players who are hell-bent on upsetting today financial regimens?

As a result, today, a lot of reserve banks are racing to launch their very own CBDC as per Squawk Box.

Sonnenshein @Sonnenshein CEO @Grayscale was asked if the birth of the Digital Currency can spell a death knell for PayPal and other such platforms Sonnenshein said, that business like PayPal already include decentralized financing in their portfolios.

He also added that the birth of Digital Dollars will not press out the existing cryptocurrencies however augment their energy. It is the birth of the DeFi routine, and the more it spreads out, the more inclusive it will be, providing banking benefits to a larger population.