Why PayPal might be interested in BitGo

Last week PayPal made headlines in the crypto and blockchain industry when it announced that it would begin to offer crypto services similar to those available in Square's Cash App: PaPal's more than 350 million global users will now be allowed to hold and buy crypto. To pull it off, PayPal is partnering with Paxos and will use its brokerage services to obtain a conditional license from the New York Department of Financial Services. 

The news didn’t stop there. Shortly after, a report on the Bloomberg Terminal said that PayPal was exploring the prospect of acquiring cryptocurrency companies, with BitGo the only company mentioned by name.