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Dan Schulman, CEO of PayPal, reiterated his positive views on the cryptocurrency industry. In his view, the intersection of digital assets, Digital Fiat Money (CBDCs), stablecoins and cryptocurrency wallets will "reshape the financial world in a significant way in the future."
High expectations for cryptocurrencies
The top director of the PayPal has long been a supporter of the cryptocurrency industry, and he even admitted to owning Bitcoin in 2019.
In his most recent speech at Axis Tel Aviv, Schulman reaffirmed his position, predicting that the combination of digital assets, digital fiat currencies (CBDCs), stablecoins, and cryptocurrency wallets could redefine the currency sector.
"The intersection between CBDCs, stable coins, cryptocurrency wallets, and increasing cryptocurrency payments is not only exciting, but I think this will reshape the financial world in a significant way in the future."
One of the most intriguing topics in the cryptocurrency market is the dollar value of Bitcoin and the predictions of its movement in the coming months and years. However, Schulman disagrees with this. For him, what matters is the value of the digital asset industry and its ability to influence the financial world in a positive way:
"I'm excited about what cryptocurrencies and digital technology can bring to the financial system in the future. I think the first thing people think about cryptocurrencies is to buy and sell it, and what the price of bitcoin tomorrow will look like is also the least interesting thing about cryptocurrencies for me."
It is worth noting that his company – the payments giant PayPal – has also been involved in the cryptocurrency movement. The company recently launched an app called a "super wallet," which includes digital asset services.
In early 2022, the PayPal announced that it is developing its own cryptocurrency. This asset will be stablecoins, which can be anchored in U.S. dollars. Jose Fernandez da Ponte, senior vice president of cryptocurrencies and cryptocurrencies at PayPal, revealed that this financial product will aim to meet all the necessary standards as prescribed.
"We are developing a stablecoin, if we issue it in the future, of course we will work closely with regulators."
Novogratz has a similar view.
Another prominent figure who shares the vision with Dan Schulman is Galaxy Digital CEO Mike Novogratz. Last week, he predicted that crypto and blockchain technology would "reshape the world in ways we couldn't have imagined."
In addition, Novogratz believes that Joe Biden's executive orders on cryptocurrencies will help the market rise in price. He concluded that the directive was "welcome engagement by the authorities," which could create an opportunity for the U.S. to become a leading cryptocurrency power.
