PayPal Explores Stock-Trading Platform for US Customers

​The global payment giant based in the US PayPal is exploring to launch a individual stock trading platform for its US clients, according to CNBCV.

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Ealier this month, PayPal has named Rich Hagen as CEO of its unreported arm Invest at PayPal. Hagen was the former President at Ally Invest, and Co-Founder of the online brokarege firm TradeKing, which was acquired by Ally Invest. His current job discription outlines that the company is focused on extending footprints into the consumer investment business.

Reportedly, PayPal may form a partnership with or acquire an existing broker-dealer to deliver  stock trading for customers. Whereas, it is unlikely that the service will launch this year.

The payment giant's move is at the time of a retail trading boom. Over 10 million new individual investors have entered the market in H1 2021, according to JMP Securities. Besides, the move is on the heel of its rolling out crypto service in the U.K​.