An equity analyst- Lisa Ellis- from research boutique MoffettNathanson opined that cryptocurrencies such as Bitcoin, Ethereum and Ripple will pose a significant threat to payment companies like Visa, Mastercard, and PayPal in time to come, CCN reported.
Ellis stated in a client note:
"Cryptocurrency systems (e.g., Bitcoin, Ethereum, Ripple) are potentially disruptive to private payment systems. Their core design characteristics — which are aimed at enabling ‘freedom of money’ — are in direct contrast to the characteristics of most traditional, private payment systems."
Ellis encouraged established payment system companies such as Visa, Mastercard, and PayPal to integrate cryptocurrencies into their business models in order to avoid losing market share to crypto firms like Ripple and Veem, which are offering cross-border payment services.
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