PayPal is Rumored to Launch an Online Stock Trading Platform

CNBC quoted two sources on Monday (30th) as reporting that online payment giant PayPal  will launch a stock trading platform after launching its cryptocurrency trading function last year.

According to a person familiar with the matter, PayPal recently hired Rich Hagen, a voucher business veteran, as part of its plan to launch a stock platform. Hagen’s LinkedIn page shows that he is the co-founder of online brokerage TradeKing, who left the company after TradeKing was acquired by Ally Invest, and currently serves as the CEO of an unreported department of PayPal, “Invest at PayPal”.

PayPal’s move comes at a time when retail transactions are flourishing. According to estimates by JMP Securities, more than 10 million retail investors entered the market in the first half of this year, about the same as last year’s record level.

 

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CNBC quoted two sources on Monday (30th) as reporting that online payment giant PayPal  will launch a stock trading platform after launching its cryptocurrency trading function last year.

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