Payment giant PayPal is still wary of cryptocurrencies, said John Rayne, the company's CFO, in an interview with Yahoo Finance .

He noted that PayPal has already tested the ability for merchants to accept Bitcoins for payment. However, the company found that users preferred to convert cryptocurrency to Fiat as quickly as possible, probably due to volatility.

At the same time, Rainey added that PayPal will continue to study cryptocurrencies and their capabilities.

“We have teams working with blockchain technology and cryptocurrencies. We want to take part [in this process], whatever its future may be. But I think it’s still too early for Bitcoin, ”he said.

Note that PayPal founder Peter Thiel, on the other hand, is actively involved in venture capital activity in the cryptocurrency sector.

In particular, the Founders Fund, where it is the main partner, has invested in the Blockfolio project, which develops a mobile application for managing a cryptocurrency portfolio.

In addition, in April last year, the fund led a round of funding for the blockchain start-up Harbor, under which the latter attracted 28 million venture capital investments.

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