PayPal is exploring the possibility of adding an equity trading platform to give users access to trading individual shares.<\/p>\n\n\n\n
According to sources familiar with the situation, the payment services company has hired brokerage industry veteran Rich Hagen as part of its expansion to “invest at PayPal”, a previously unreported division of the company.<\/p>\n\n\n\n
Hagen’s LinkedIn page and current job description confirm and outline Paypal’s plan to explore opportunities in the consumer investment market.<\/p>\n\n\n\n
PayPal’s latest move to become an equity trading platform comes amid a retail trading boom that has drawn millions of new investors to the stock market, many of whom have made their way through a combination of factors such as the pandemic, government stimulus checks and viral events such as the rise of GameStop in January.<\/p>\n\n\n\n
As trading has become more widespread, it has become a lucrative business opportunity for companies offering exchange trading services.<\/p>\n\n\n