PayPal CEO: User Interest in New Features Exceeds Expectations, Central Bank Digital Currency Issuance Only a Matter of Time

The CEO of PayPal stated during yesterday's third-quarter earnings conference call that user interest in cryptocurrency services has exceeded expectations, and revealed the company's vision to become the world's largest digital asset wallet.

Strong User Interest in New Features

During a phone conference, PayPal CEO Dan Schulman stated that currently only 10% of customers in the United States can use the newly launched cryptocurrency services, with users in other parts of the U.S. set to be gradually onboarded over the next two to three weeks. Schulman pointed out during the call that there is a strong demand from users for PayPal to offer these features, with the current demand from unreleased users being 2 to 3 times what was originally anticipated. Due to the significant interest shown, PayPal announced an increase in the weekly cryptocurrency purchase limit from $10,000 to $15,000.

Schulman further stated that in a new economic system driven by digital identities, fully digital payments, and fintech services, PayPal will have more opportunities for growth. Additionally, the integration of cryptocurrencies with PayPal also enhances the practicality of cryptocurrencies to a certain extent.

CBDC is Inevitable

As previously reported, since the International Monetary Fund (IMF) proposed the new "Bretton Woods system," countries worldwide seem to be accelerating the research and implementation progress of Central Bank Digital Currencies (CBDCs). When discussing the creation of CBDCs for the general public by central banks, Dan Schulman believes that the issue with CBDCs is no longer "whether or not," but "when" and "how" to achieve it. He further added:

"I think our platform, digital asset wallet, and the scale of users we have now can help shape the utility of these currencies. This could include interoperability between wallets and currencies, and most importantly, CNBC can enter our network and be used for commercial activities."

During the meeting, Dan Schulman also seemed to hint at the role PayPal will play in the upcoming trend of asset digitization.

"PayPal aims to create the world's largest and most eye-catching digital asset wallet."