Could itBit give us insights into the success of PayPal's new crypto service?

After months and months of rumors, PayPal finally announced in October that it will allow its customers to buy and sell Bitcoin and other cryptocurrencies. The PayPal ecosystem is massive; it boasts more than 320 million active accounts (not including merchants).

Due to regulatory and technological complexity, PayPal is, of course, not handling cryptocurrency directly but instead uses Paxos to facilitate both custody and trading through its white-label brokerage service. Paxos also acts as a revenue-neutral market maker to provide liquidity.