“We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form that takes in the future — I just think it’s a little early on right now [on bitcoin],” Mr. Rainey said.
Cryptocurrencies have resurfaced in recent months. Insurance provider Fidelity plans to offer bitcoin trading services, and Facebook is reportedly developing a cryptocurrency platform.
Instead of focusing on disrupting the current payment system, PayPal is focused on its $500 million stake in Uber and its recent deal with Instagram.
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