PayPal: We are interested in Cryptocurrency and Blockchains
PayPal is the largest international debit electronic payment system providing services for paying bills, buying and selling, sending and receiving money transfers. Since October 2002, PayPal has become a division of eBay.
PayPal recently announced many open positions for cryptocurrency related positions. This shows the company's ambition in the booming digital currency space.
According to data provided by the Dublin-based Irish Independent, PayPal intends to tackle a variety of crypto asset-related challenges in order to ensure and comply with regulatory requirements of the regulator, in the fight against money laundering and shadow business, its operations in the Dublin region and Dundalk.
To enter the crypto asset market, PayPal has opened a cryptocurrency and blockchain division. Back in October last year, the division began active purchases of bitcoins (BTC), bitcoin cash (BCH), Ethereum (ETH) and Litecoins (LTC).
In March of this year, the company decided to expand its range of services, allowing American users to use digital assets to pay for purchases and services. About two months later, PayPal announced that users will also be able to withdraw their crypto assets to third-party wallets.
Paypal has opened up many jobs related to cryptocurrencies and blockchain technologies as the explosive activity has developed and prepared to expand its cryptocurrency services. The company's website lists at least 100 jobs related to Bitcoin and blockchain technology. However, most of the vacancies are located in the United States.
In April, PayPal President Dan Schulman stated:
“The company's cryptocurrency business has exceeded all expectations in the first six months since launch. The rapid adoption of digital assets like Bitcoin and Ethereum has been accompanied by skyrocketing prices, bringing the total value of the cryptocurrency market to nearly $ 2.6 trillion. After a sharp adjustment between May and July this year, the cryptocurrency market seems to have bottomed out and is currently growing again . "
PayPal is also undergoing updates to expand its services and speed up payment processing, Shulman said. It was also added that the company is preparing to enter the UK market.
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