Paypal has recently filed an application for an 'Expedited Virtual Currency Transaction System'. The patent appears to be for a system in which private keys are traded between buyer and seller in a secure and anonymous manner. Paypal desires to make transaction on a crypto network more efficient, making it so that transaction can happen 'off-blockchain'; in other words, so that transaction can take place directly between secondary wallets belonging to a buyer and seller. These secondary wallets will have their own private keys.
The application made by the company explained that the proposed system will "practically eliminate the amount of time the payee must wait to be sure they will receive a virtual currency payment." Paypal's system is the latest development in a series of solutions to improve transaction speed on various crypto networks, including the lightning network, which aims to solve scalability on the Bitcoin Blockchain.