Thread by @martincpvalk

1/10

Looked into #Paypal's access to #cryptocurrencies, as a lot of people in the #xrpcommunity were giving out about them not including #XRP

Would appreciate critical thinkers to give their opinion: @HamEggsnSam @galgitron @XRP_OWL @Kevin_Cage_ @MoonLamboio @WorkingMoneyCH

2/10

#Paypal made the #crypto announcement yesterday:

https://twitter.com/PayPalNews/status/1318921923611529217?s=20

3/10

Here is the @Reuters article:

reuters.com/article/us-pay…

2 quotes from the bottom of the article:

"cryptocurrency licence from the New York State Department of Financial Services"

"PayPal is teaming up with cryptocurrency firm Paxos Trust Company to offer the service."

4/10

Let's take a look at @PaxosGlobal

Link: paxos.com

5/10

Let's check out the Department of Financial Services (@NYDFS)

Link: dfs.ny.gov/apps_and_licen…

#XRP is approved for #Custody bot not for #Listing

6/10

#Custody:

"Custody refers to the holding of #assets on behalf of a client"

Link to the @binance academy:
academy.binance.com/en/glossary/cu…

7/10

#Listing

"When an exchange offers trading pairs for a particular asset, this action is known as “listing” the asset."

Link to the @binance academy:
academy.binance.com/en/glossary/li…

8/10

Quote from @CoinDesk article:

"#PayPal's service does not allow #bitcoin or other #cryptocurrencies to be withdrawn or deposited. Once you buy the coins, they stay in your account until you sell."

Coindesk article as the source:
coindesk.com/paypal-new-yor…

9/10

As #PayPal will not allow you to deposit or withdraw #cryptocurrency this takes the custody only (wallet) option out of the picture. And as you have to buy the crypto it needs to be "listed".

10/10

As the York State Department of Financial Services (@NYDFS) does not Allow #XRP to be listed, am I correct in thinking that #PayPal couldn't offer #XRP even if they wanted to?