Nearly 20% of PayPal's 286 million active users in the United States have already used the app to buy bitcoin since last month, says CoinDesk. Roughly 350 million people bank with PayPal each month worldwide, boasting more users than any U.S. financial institution. PayPal is now more valuable than any bank besides JPMorgan. Most U.S. customers should see the crypto functionality in the PayPal app via a banner at the top of the main screen to buy Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. In a survey by CoinDesk, about 65% of PayPal users would use bitcoin as a currency at one of PayPal's 28 million merchants. On Wednesday, PayPal CEO Dan Schulman said at a Web Summit event with 100,000 attendees that "for cryptocurrencies, the time is now," and said the use of digital currencies is set to go mainstream as more merchants prioritize digital payments. "The entire world is going to come into digital first." When asked his biggest competitor, the CEO said Ant Financial, China’s largest mobile-payment company. On November 8, Ant Group, backed by billionaire and Alibaba cofounder Jack Ma, suffered a crushing defeat by Chinese regulators on November 8 after they buried Ant Group’s $39.5 billion IPO. Ma’s shares were reportedly worth about $17 billion, and the IPO would have increased his net worth to $80 billion, making him the richest man in the world. On January 6, PayPal completed a $4 billion deal to acquire the shopping rewards platform Honey.