By Hassan Mehmood (Saudi Arabia)
PayPal is one of the largest digital payments platforms in the world. The company’s scope for the future is only growing larger by the day. In the current economy, digital payments and online transactions have become more common. Most people from the young generation prefer to use online payment options rather than carrying out cash physically.
However, new technologies are always emerging from time to time. The management of PayPal does not want to be left behind in the crypto industry to keep the company updated. PayPal started offering its consumers the ability to sell, purchase, or use cryptocurrencies with the help of a dedicated digital wallet at their platform. Recently the company has been posting crypto-related jobs in Ireland.
PayPal will Start Issuing Crypto Services to UK Users this Month
Crypto payments have been possible on PayPal since 2020. However, during a recent media interaction, Dan Schulman, CEO of PayPal, told their UK consumers that these services would activate in their region from August. When PayPal decided to allow users to have crypto payments on the platform, it made a massive impact on the crypto market as well.
The price of Bitcoin witnessed a massive appreciation. PayPal management is planning to hire new staff members from their offices in Dublin and Dundalk. In April, the digital payments giant moved around 131 employees from Ireland to foreign stations. The company has also claimed that it is committed to the region. PayPal developers are working on a new crypto transaction feature. It will allow the users to conduct actual transactions with cryptocurrencies, just like fiat.
Following the example of PayPal, many other crypto-related ventures have shown an interest to expand into the European markets. Ireland is a country with a better regulatory environment for virtual assets. Therefore, crypto exchange Kraken is also in the process of opening up a new branch office in Dublin. Another crypto exchange to follow suit is the Gemini exchange. The platform co-founded by Winklevoss Twins has already started the construction process for a new office in Dublin. Not only crypto enterprises but traditional financial institutions have also taken an interest in Ireland. The largest bank of America, BNY Mellon, operates a crypto unit from the capital city of Ireland.
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