As Bitcoin Adoption Rises, PayPal Puts Together a Crypto Team in Ireland
The team will aid PayPal in expanding its crypto-focused business offering at a time when Bitcoin and Ether are gaining traction.
PayPal, the global payments firm, is hiring for numerous cryptocurrency-related roles at its Ireland headquarters, underscoring the business’s ambitions in the fast-developing digital asset sector.
PayPal is looking to fill different crypto-focused jobs in compliance, anti-money laundering, and business development for its Dublin and Dundalk operations, according to the Dublin-based Irish Independent.
PayPal established a specialized crypto and blockchain business unit earlier this year to assist its entry into cryptocurrencies, which began in October 2020 with the purchase of Bitcoin, Ether, Bitcoin Cash, and Litecoin by clients in the United States. The business expanded its offering in March of this year, allowing US consumers to pay for products and services using their digital asset holdings. PayPal said two months later that users will be able to withdraw their bitcoins to third-party wallets.
PayPal’s CEO, Dan Schulman, stated in April that the company’s crypto business has exceeded all expectations in its first six months of existence. The fast adoption of digital assets like Bitcoin and Ether was accompanied by a significant price increase that propelled the total cryptocurrency market to a worth of almost $2.6 trillion. Crypto markets look to have hit a bottom and are currently traveling higher again, after a steep correction between May and July.
Schulman stated on PayPal’s quarterly results call last week that the company’s crypto trading business will be arriving in the UK shortly. Upgrades are also being developed to enable quicker payment processing.
Source: Cointelegraph news
Please follow our social media accounts:
Facebook: www.facebook.com/defiescrow/
Instagram: www.instagram.com/defiescrow/
Twitter: www.twitter.com/defiescrow/
Please join our growing community on Telegram: https://t.me/joinchat/PN5PoRJHRikwNjll
