PayPal CFO John Rainey has said the payments firm has no plans to back cryptocurrency such as bitcoin due to its volatility. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
PayPal CFO John Rainey has said the payments firm has no plans to back cryptocurrency such as bitcoin due to its volatility. While PayPal will not support a currency that its merchants have no interest in, Rainey said it may be prepared to reconsider its stance in the future should the currency stabilise.