Digital Fiat Currency Will Replace Paper Money-PayPal CEO

Sunil Sharma
November 23, 2020
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When asked about the threat to Bitcoin [BTC] from finance regulators PayPal CEO today in an interview to CNBC said that central banks will replace paper money with Digital fiat currencies that include cryptocurrencies, CBDCs and other stablecoins. It is to be noted that Paypal recently allowed users to buy Bitcoin [BTC] using fiat currency on Paypal.

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Can Regulators Make Bitcoin [BTC] Obsolete?

One important point made by PayPal CEO Dan Schulman is that even in case if government regulators are against bitcoin [BTC] adoption we will still have forms of digital fiat currencies like CBDCs, cryptocurrencies and stablecoins.

He is positive about the fact that declining dependency on paper money in retail will boost the adoption of digital alternatives to paper money. He confirmed that PayPal is working hand-in-hand with govt. authorities as they make is more easier to use digital currencies like Bitcoin [BTC] for daily transactions.

He said,

PayPal will make it easier for users to use crypto as a funding source.

Recent news that Paypal is enabling purchase of Bitcoin [BTC] on their platform was bullish and played a key role in supporting the ongoing Bitcoin bull run. Not only PayPal large Wall Street player like JP Morgan, Paul BlackRock etc. are also bullish on Bitcoin [BTC].

Keep reading. Stay safe.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.