What Does PayPal’s Shutdown in Turkey Mean for Bitcoin?
PayPal has been forced to cease operations in Turkey. The shutdown will go into effect on June 6. Turkey recently denied PayPal of a new license, which is required to operate within the country. According to TechCrunch, the reason for the denial was that PayPal does not localize all of their IT infrastructure inside of Turkey. To get a clearer picture of....
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PayPal today announced it has lost its license to operate in Turkey, a country where 45% of consumers consider digital currencies to be “the future of spending.” PayPal Can’t Operate in Turkey. A statement on the company’s Turkish website states that from June 6 no further transactions would be fulfilled, and that customers should withdraw funds to banks....
The exit of PayPal from the Turkey may pave way for new blockchain based digital payments systems. Turkey might prove to be a gold mine for digital currencies companies in the coming days. Thanks to issues being faced by PayPal due to the Turkish government’s refusal to renew their license to operate in the country. With the leading global payment solutions provider’s license due to expire in the next few days, PayPal (NASDAQ: PYPL) will be forced to shut down. By doing so, the company will leave behind a huge void in peer to peer transactions and merchant payment solutions sectors.....
Insights from PayPal’s first quarterly earnings report since launching crypto services.
Would you believe it if someone tells you that the most advanced countries in the world are the ones that adopt new technologies sooner than the rest? If you did, then you might be wrong with a few things, especially mobile banking and Bitcoin adoption. Let's take Turkey for example. ING, the Dutch multinational banking and financial services company recently published a report titled "ING International Survey - The rise of mobile banking and the changing face of payments in the digital age" . The survey was conducted by ING along with Ipsos to understand the behavior of its existing and....
Inflation has skyrocketed in Turkey as official figures from the Turkish Statistical Institute (Tüik) show the country’s inflation rate topped 85.5% year-on-year. The inflation rate in Turkey has risen for 17 consecutive months and last month it reached a 24-year high. Turkey’s Interest Rate Remains Low, While Inflation Runs Rampant Turkey, the transcontinental country located in Western Asia has been suffering from financial hardship as the region’s economy is in dire straits. On Nov. 3, 2022, the Turkish Statistical Institute (Tüik) published the country’s official inflation rate....