PayPal is reportedly exploring opportunities in the blockchain space, specifically with Layer 2 solutions and non-fungible tokens (NFTs). The company has filed several patent applications, including one that outlines techniques for directing blockchain requests to a specific group of miners or validators.
Three additional patent applications discuss enabling off-chain transactions using NFT marketplaces, an "omniverse" product that operates across multiple metaverses, and enhancing the efficiency of payments between users and merchants operating on different network layers.
PayPal has been making a strong move into crypto, including offering Bitcoin trading and launching its own USD-pegged stablecoin, PYUSD. The company's push into Layer-2s and NFTs will be interesting to watch.