US-based payments giant PayPal has filed a patent with the US Patent and Trademark Office (USPTO), published on March 1, to increase the speed of cryptocurrency payments. The patent describes an "Expedited Virtual Currency Transaction System",

The patent's inventors are listed as Cheng Tian and Sandy Lynn Godsey of San Jose, California, with PayPal Inc. listed as the applicant. According to the patent, PayPal is attempting to solve the problem of slow transactions for cryptocurrency trades that have led to potential crypto users to "

" " The patent states.

The patent details of the creation of secondary wallets with their own private keys (19459005) practically eliminat [ing] the amount of time the payment must be made to a transaction in a virtual currency transaction "The shortened wait time is due predefined amounts "of cryptocurrency that are equivalent to the amount in the transac

In late February 2018, PayPal's chief financial officer John Rainey spoke favorably of the possibility for Bitcoin (BTC) to become a popular payment method " used every day ".