PayPal is one of the largest electronic cash transmitting services in the world. At the end of 2019, PayPal had 309 million active account holders.
PayPal and cryptocurrencies
PayPal was long rumored to be interested in getting involved in cryptocurrencies when it said it would join the Libra Association in June 2019. It later said that it was dropping out of the association in October of that year.
The company formally signaled its interest in a comment letter on cryptocurrency regulation to the European Union in March 2020.