Craig-Hallum analyst Brad Berning notes that Facebook (FB) is launching a cryptocurrency named "Libra" and a new subsidiary Calibra to provide financial services and let consumers participate in the Libra network. The implication for the payments industry and PayPal (PYPL) is confirmed to be a partnership approach for loading payments, processing FX settlements, and providing exit points to spend the money in cash, crypto, digital wallets and card networks, he adds. The analyst also believes Facebook and PayPal's payments platform partnership could include a broader effort to drive merchant acceptance of Libra via PayPal's Braintree. PayPal's strategy of customer choice and being a "customer champion" is apparent by its involvement here in the sense that it will have the ability to attract customers by giving them the option to use Libra as a currency. Berning reiterates a Buy rating and $125 price target on PayPal's shares.

DMG Blockchain Solutions (DMGGF) announced a strategic collaboration with PayPal (PYPL) and Energy Web to explore ways to decarbonize the Bitcoin blockchain. The companies are working together on developing methods for transacting on the Bitcoin network which would expand its use as a carbon neutral payment rail, thus advancing its application. DMG, Energy Web, and PayPal are working together to publish a research paper, which we collectively believe will benefit users of the Bitcoin network who would like to take advantage of carbon neutral options in their transactions. PayPal, with its focus on developing its bitcoin payment rail, has been a leader in new payment technologies with the introduction of its enhanced services by integrating blockchain technology, launching the PayPal USD stablecoin with Paxos Trust Company in August 2023 for efficient transactions.