The big picture: Now is the time to grow your retail business. According to JMP Securities, more than 10 million new investors jumped into the market in the first half of 2021 alone, due to a review of government stimulus and MIM stocks. Plus, platforms like Robinhood and Square have made it easier for newcomers to get involved in retail, and PayPal seems to want a piece of the pie.
PayPal is said to be developing stock trading less than a year after launching the ability to buy, hold and sell cryptocurrencies on its platform.
Sources familiar with the matter told CNBC that the payment processing company is studying ways for users to trade private equity. Further confirming these rumors is the fact that PayPal recently hired employment industry veterinarian Richard J. Hagen as CEO of PayPal Invest to lead “efforts to explore opportunities in consumer investment.”
According to LinkedIn Hagen Page, he joined PayPal in August 2021. This is the first time we've heard of investing in PayPal.
Anna Nekrashevich, Brett Jordan
PayPal reviews stock trading platform for US customers