PayPal CEO Dan Schulman stated that his customers’ demand for crypto is far above expectations.
Speaking to TIME Magazine, Schulman said the demand for cryptocurrencies was more than he expected and that he was a very excited audience on the subject.
Schulman believes cryptocurrencies have become even more important as daily payments become digital with the pandemic process. Ten years from now, he argued, there would be an “enormous” decline in cash and credit card usage. Instead, the CEO believes financial transactions will be handled via smartphones and a variety of applications.
Schulman thinks that today’s financial systems are quickly obsolete due to slow transactions and high fees. For this reason, companies may consider modernizing their existing financial infrastructures.