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The Potential of Pi Network Shines Brighter as PayPal Holds $1 Billion in Crypto Assets

The Potential of Pi Network Shines Brighter as PayPal Holds $1 Billion in Crypto Assets

www.ehainews.com - Online payment company PayPal recently revealed in its latest 10-Q financial report that it holds nearly $1 billion worth of customer crypto assets on its balance sheet. These crypto assets include bitcoin, ether, bitcoin cash, and litecoin, all of which are held by PayPal as internal records of their customers' crypto assets.

Since the end of last year, PayPal has reported an increase of $339 million in customer crypto assets. This shows that more and more PayPal customers are choosing to invest their money in crypto.

While there is no regulatory protection for crypto investors in the United States yet, PayPal has established terms and conditions that offer protection to their customers. They will protect customers from "the full amount of unauthorized purchase or sale activity" after cooperating with the company. They will also reimburse customers for "unauthorized transfers" with a lifetime cap of $50,000.

As a payment provider, PayPal has introduced various crypto features to its customers in recent years. They allowed customer transfers to third-party wallets and exchanges in July 2022. Recently, PayPal also rolled out crypto transfers on Venmo, a mobile payments services app. This allows customers to move assets to external wallets, while also letting users transfer crypto to others through the app.

PayPal also partnered with ConsenSys to integrate a feature that allows users to buy ether via PayPal to fund their wallets in December last year.

In the growing crypto industry, PayPal plays a vital role as one of the big players that enables more people to participate in crypto investment more easily. In its latest financial report, PayPal shows how serious it is about strengthening its position in the crypto market, which can be one of the most promising assets for the future.

source : blockworks

What about Pi Network?

So far, there is no information indicating that Pi Network can be traded using PayPal. However, with PayPal increasingly strengthening its position in the crypto market, it is not impossible that in the future, Pi Network may become a crypto asset that can be traded through PayPal.

However, this, of course, depends on the policies and agreement of both parties. If Pi Network and PayPal can agree to cooperate to enable Pi Network transactions using PayPal, then this can be a possibility in the future.

That's all for today's information, hope it's useful.

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