RBC Capital analyst Daniel Perlin keeps his Outperform rating and $120 price target on PayPal after its $4B acquisition of Honey Science announced yesterday, saying the deal is "transformative" as it will enhance the company's "consumer and merchant engagement proposition". The analyst adds that the near-term synergies of the deal will allow PayPal to be engaged with the consumer prior to the purchase and also boost engagement, noting that 90% of Honey's 17M users are active each month.

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.