PayPal CEO Says Company’s Crypto Service Will See Significant Growth In The Next Five Years

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PayPal CEO, Dan Schulman, is optimistic that the company’s crypto business will hit $200 million in months. Schulman revealed his bullish prediction at a Forbes online event, held on the 13th of April. During the event titled “2021 Blockchain 50 Symposium: Crypto Goes Corporate,” the CEO had a chat with Forbes associate editor Michael Del Castillo. 

During the conversation, Schulman said that the financial space would see more development over the next five years than it had experienced in the last 30 years. Specifically, the CEO mentioned that cryptocurrencies, like Bitcoin, will serve as major growth factors. 

In addition, Schulman said that cryptocurrencies and central bank digital currencies (CBDCs) increase the utility of payments and help in the advancement of the world’s financial system. 

Schulman’s prediction came at a time where Bitcoin is continually increasing and reaching new highs. At the time of writing, Bitcoin is up 1.38% to $63,092.33. 

Speaking further during the chat, Schulman said that there would be reduced use of credit card and cash transactions in the next five to ten years. He also promised that PayPal’s crypto feature would eventually allow customers to do more than buy, sell, or hold cryptocurrencies. 

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