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August 18, 2014updated 04 Apr 2017 4:06pm

PayPal likely to accept virtual currency Bitcoin

Global e-commerce giant eBay's online payment platform PayPal is reportedly engaged in negotiations with Coinbase and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system.

By Verdict Staff

Global e-commerce giant eBay’s online payment platform PayPal is reportedly engaged in negotiations with Coinbase and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system.

People familiar with the matter were quoted by the Wall Journal as saying that PayPal has not reached any agreement yet.

eBay acquired Braintree for $800m in 2013 to strengthen PayPal’s mobile capabilities.

Braintree offers software for payments processing to many online and mobile companies such as Uber and Airbnb.

eBay chief executive John Donahoe told the publication last year that he was considering ways to use bitcoin.

A deal would be a life support for a crypto currency, which is gradually gaining acceptance and backers believe that it will be able to displace cash or credit cards in many transactions.

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