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According to a media report, the online payment service PayPal is considering entering the stock market.
This is reported by the American business broadcaster CNBC, citing "people familiar with the matter".
This would be the second time that the company would rely on a current investment trend among its typical customer group of mainly private individuals with low payment volumes.
Martin Hock
Editor in business.
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Stock trading by private investors with little wealth has increased significantly in recent months, as has trading in crypto assets in the past. PayPal users in the USA had already made it possible to buy these last year, and the UK was added in August. The company also plans to publish a “super app wallet” in the USA shortly, which will also include savings accounts and “additional crypto functions”.
PayPal has just hired Richard Hagen to enter the stock market. He founded the online broker Tradeking in 2005, which was taken over by the competitor Ally Invest in 2016. Hagen was President there until 2019 and is now CEO of PayPal for the Invest division, which has not yet appeared in this form. However, it fits into the plans of PayPal boss Dan Schulman, who named the development of further financial services as a corporate goal at the beginning of the year. The competitor Square already offers trading in shares via the app. However, it is unlikely that the PayPal offer will be launched this year.