Infrastructure Investment Policy Supports Semiconductors

PayPal has recently launched a cryptocurrency payment service, and it is expected that the growth rate in the financial service sector will accelerate in the future.

PayPal launched a service on the 30th of last month that allows online merchants to pay by switching cryptocurrency into dollars. It was one step further after the company released the ability to sell cryptocurrency in November last year. The cryptocurrency that can be paid can be paid only by a single coin when purchasing a product, such as bitcoin, Ethereum, Bitcoin Cache, or Light Coin.

The service is currently available at millions of global online merchants, and PayPal plans to expand its sales to about 30 million sellers in the future.

PayPal’s introduction of such a leading cryptocurrency payment service is expected to increase the inflow of new members and activity index in the short term. Since PayPal launched its cryptocurrency 폰테크 trading service last year, the number of active members has surged 30% from the previous year and the amount of payment per active member has increased by 12%.

“It is encouraging that all activity indexes have turned around after taking an inflection point,” said Kim Jae-im, a researcher at Hana Financial Investment Co., Ltd., adding, “In the short term, cryptocurrency payment services will contribute to increasing the rate of increase in average sales per subscriber (ARPU).

In the mid- to long-term, the cryptocurrency payment service is expected to further expand PayPal’s presence in the financial services sector, which is already far ahead of other payment network operators. Payment network operators such as Visa and Master Card have recently launched a pilot program that applies cryptocurrency as a payment method.

Some worry that the price drop of virtual currencies may affect PayPal’s share price, but the volatility of virtual currencies is expected to be positive for PayPal.

“The change in cryptocurrency prices is rather a factor that increases the activity index of members, and the direct impact on PayPal’s performance is limited,” said Kim. “The volatility impact on cryptocurrency is likely to be limited in the short term,” Kim said.

“The impact of bitcoin transactions and payments on PayPal’s performance is limited,” said Jeong Yong-je, a researcher at Mirae Asset Daewoo. “The key is to become a financial platform including bitcoin rather than increasing sales through bitcoin.”

According to the Korea Securities Depository, domestic investors hold $167 million in PayPal shares as of the 8th, which is 42nd among US stocks

Domestic semiconductor-related stocks are expected to benefit from global tax hikes. The Biden administration announced that it would raise corporate tax, which is currently 21%, to 28%, and the claim to introduce the lowest tax rate for global corporate tax is expected to pour huge amounts of financial resources collected by tax hikes to semiconductors, which are suffering from recent supply and demand shortages, as they are gaining strength in the United States and Europe.

On October 10, KB Securities predicted that the introduction of digital taxes and corporate tax hikes in Europe will have a negative impact on the stock market after June. April-May is that the government should concentrate more on where to distribute the finances secured through tax hikes

The U.S. is scheduled to hold a meeting on the semiconductor shortage on the 12th (local time), and the market is expected to include investment to expand semiconductor supply. Samsung Electronics was reportedly invited to the meeting.He said, “In order to solve the semiconductor shortage, the Democratic Party and Republican Party representatives of the US Senate are reported to be preparing for the bill bipartisanly. The US administration and the legislature are gathering strength in support of the semiconductor industry, and Samsung Electronics is at the center of it.” “He said.

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