The cuts will allow PayPal to “move with the speed needed to deliver for our customers and drive profitable growth,” CEO Alex Chriss said in the letter sent to employees.
Almost three years after PayPal started supporting cryptocurrency for all US accounts, the fintech company has launched its own stablecoin that's pegged on the US collar.
Venmo is going further into the once-heralded digital currency space by allowing users to send crypto directly to other Venmo customers. The feature rolls out throughout may and also allows for sending digital currency to Paypal users and other external wallets.