Over $2 Billion in Revenue for PayPal from Crypto Services in 3-Year Spectrum

PayPal’s announcement for buying and selling crypto for its users with simple and plain way, was an important news in the fall. PayPal’s users are nearly 350 million while the crypto services will be conducted through Paxos and its exchange, Itbit.

Mizuho, in a recent report, highlights 3 important numbers about crypto services’ development, that will affect the entire company’s performance:

• $2 billion in revenue from crypto services until 2023
• 20 % increase in revenue in 2021 from all departments
• 50 % of PayPal’s users will open a crypto account in the next 2 years

The facts above show that PayPal has focus on the crypto sector as a solid strategic option while in the past, it used to buy 70 % of the newly minted bitcoins.