According to CNBC reports, US electronic payment giant PayPal is exploring the launch of a possible stock trading platform that allows users to trade individual stocks. This is an increase in retail trading business after PayPal launched trading cryptocurrency last year.
PayPal is currently “exploring opportunities” in the consumer investment business. According to two sources familiar with the plan, PayPal has been exploring ways to allow users to trade individual stocks after launching the function of trading cryptocurrencies last year.
When asked for comment, PayPal pointed out that the company’s CEO Dan Schulman spoke about the company’s long-term vision at the investor day in February and how the company includes more financial services, including “investment capabilities.”
According to reports, PayPal may launch its stock trading business by cooperating with existing brokerage firms or acquiring a brokerage firm. Allegedly, PayPal has discussed with potential industry partners. However, the transaction service is unlikely to be launched this year.
Post time: Aug-31-2021