Verge (XVG) had in recent months been on spotlight alongside top coins such as Bitcoin and Ripple (XRP). The perception was that it was literally down the rope and is looking for a platform to hang on.
At the moment, there are intense plans to gather more viable platforms to its side. This time, the arrow is pointing at PayPal and Venmo.
The crypto community was bemused why the coin should be interested in PayPal. The latter is known for its stiff regulations against cryptographic currencies and it is then ironical that Verge (XVG) is still pushing for relevance on the platform.
On a lighter note, PayPal might not be far from the coin’s scope especially in the light of anonymity offered by Verge (XVG).
PayPal – The Apple of Verge’s (XVG) Eye
Though working under the premise of centralized institutions, PayPal has towering height when cross-border transactions are considered. Before now, Verge (XVG) had been keen to a partnership but was drawn aback by the platform’s stringent rules on use of cryptocurrencies. The frustration that came from this had forced into partnerships with MindGeek; the largest influencer in the adult content industry.
The move had been extended to a landmark synergy with PornHub. However, these were targeted attempts at making PayPal looks it way.
PayPal might be conquered with PornHub
At the time of its merger with PornHub that saw Verge (XVG) providing better payment options to the teeming million users of the platform, there wasn’t much reason released to back up the action. In the light of current moves to partner with PayPal, the crypto community is becoming aware why the synergy was struck.
PayPal with its strict regulations against crypto transactions had scared off Verge (XVG) only but a little while. It is pertinent to note here that PornHub, Verge’s (XVG) latter partner allowed service subscription and most of these payments were made with fiat currencies until crypto coins such as XVG were integrated.
PayPal was one out of many payment channels used as in-payment structures on the site. It became clear that Verge (XVG) went for PornHub as means of countering PayPal’s payment solutions and bringing the platform to its knees leaving it with no option than to accept XVG into its payments.
Apart from this, PayPal is top-rated for offering payment services in many adult content sites of which PornHub was one. There leaves no doubt that the platform seemed to have soft-pedaled and is having soft spot for cryptocurrencies. There have been reports of supposedly fake emails sent to its users. Till this moment, official disclaimer has not been elicited from the platform thereby deepening claims that PayPal might be considering cryptos as payments.
Venmo is not left out
Just as Verge (XVG) is pursuing PayPal, particular interest is focused on Venom. Venmo had started off in 2009 as a mobile payment service that allows users send payments through text messages. It had been quick to adopt reigning peer transactions that further positioned it as a social network. The impressive record had seen to its acquisition by the in-app payment system, Braintree.
PayPal seeing the potentiality had acquired Venom from Braintree. All these while, Venom had functioned as PayPal’s mobile payment system and accepted in over 2 million PayPal strongholds. Verge (XVG) is pushing for PayPal acceptance through this app.
What a Verge (XVG) Partnership means for PayPal and Venom
PayPal is not having easy ride with cross-border transactions especially at the time when hacks are predominant and users are at risk of losing their funds.
The payment service in addition to its mobile payment channel, Venom should consider using Verge (XVG) because anonymous transactions are optimum and have been at the core of Verge’s (XVG) solutions.
Recently, rumors have emerged that the duo of Venmo and PayPal are considering adding cryptographic currencies as payments. Interestingly, Verge (XVG) is in the good books and is set to be among the first to taste the water.
Verge (XVG) represent the anonymity in transactions that PayPal users were looking out for. Unconfirmed reports have it that users are getting fed up with increased fees on PayPal and recent parting with eBay is pointer to this. Integrating cryptocurrencies won’t be a bad idea as more platforms are already queuing in to the trend.
Verge (XVG) represent solutions that a business would want and also what customers will like to see in an enterprise. The low fees and anonymity will protect the identity of users who make in-platform payments on sites such as PornHub. The site has millions of users that want privacy and that’s what Verge (XVG) offers. There will certainly be marriage as both platforms, PayPal and Verge (XVG) as there will be increased patronage for them.