Global payments provider PayPal is in the process of recruiting for
several cryptocurrency-related positions at its Ireland offices, further
highlighting the company’s ambitions in the rapidly growing digital
asset market.
The Dublin-based Irish Independent, one of the country’s most popular news outlets, reported
Sunday that PayPal is looking to fill various crypto-focused roles in
compliance, anti-money laundering and business development for its
Dublin and Dundalk offices.
Related: PayPal set to launch crypto trading in the UK and may embrace DeFi
PayPal
launched a dedicated crypto and blockchain business unit earlier this
year to support its foray into cryptocurrencies, which initially began
in October 2020 by allowing customers in the United States to buy
Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). In March of this year, the company expanded
its offering by allowing U.S. customers to pay for goods and services
using their digital asset holdings. Two months later, PayPal said it
would allow customers to withdraw their cryptocurrencies to third-party wallets.
Dan Schulman, PayPal’s CEO, said in April that his company’s crypto business exceeded all expectations
in its first six months of operations. The rapid uptake of digital
assets such as Bitcoin and Ether coincided with a massive price surge
that pushed the overall cryptocurrency market to a nearly $2.6 trillion
valuation. Although prices corrected sharply between May and July,
crypto markets appear to have found a bottom and are now trekking upward again.
During
PayPal's quarterly earnings call last week, Schulman indicated that the
company's crypto trading service would be coming to the United Kingdom
in the very near future. Upgrades that would allow for faster payments
processing are also in development, he indicated.
source link : https://cointelegraph.com/news/paypal-reportedly-assembling-crypto-team-in-ireland-as-bitcoin-adoption-grows
