Kiffmeister’s #Fintech Daily Digest (05/27/2021)*

PayPal Will Let Customers Withdraw Crypto

PayPal plans to let users withdraw crypto-assets to third-party wallets. At present, PayPal does not let users move crypto-asset holdings off-platform, though it has let customers buy bitcoin and other crypto-assets since October 2020. 

Whom do consumers trust with their data? US survey evidence

A Bank for International Settlements (BIS) paper reports on a recent survey of US households, finding that they say they are more likely to trust traditional financial institutions than government agencies or fintechs (and especially bigtechs) to safeguard their personal data. Respondents from racial minorities have less trust in financial institutions, while younger respondents trust fintechs relatively more. Female, minority and younger respondents are more concerned about implications of data-sharing for their personal safety. 

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