PayPal hiring crypto team in Ireland as Bitcoin adoption grows
Global payments platform PayPal has started recruitment in cryptocurrency positions across its Ireland offices, highlighting the company is headed for rapid growth in the country’s digital currency market.
Irish Independent, Dublin’s English daily, has reported in its Aug 1 edition about the vacancies in crypto-focused roles concerning anti-money laundering, compliance and business development at PayPal’s Dublin and Dundalk offices.
Earlier in 2021, PayPal had launched a cryptocurrency and blockchain business to support its entry into the virtual currencies space. The business has enabled customers in the United States to buy Ether (ETH), Bitcoin (BTC), Litecoin (LTC) and Bitcoin Cash (BCH). PayPal’s digital venture initially began in 2020, fueled by March 2021’s expansion of its offerings to permit US customers to pay for services using their digital wallets. Two months later, PayPal announced it would allow the customers withdrawals of their cryptocurrency assets to third-party wallets.
During PayPal’s quarterly earnings call held last week, CEO Dan Schulman indicated that its crypto trading feature would be launched soon in the United Kingdom. He added that there are subsequent upgrades in a process that would allow for quicker payments processing.
The up-gradation and development initiatives have been a result of PayPal’s six months successful operation that “exceeded all expectations” within the given span of time. He further indicated that although crypto prices hit bottom in May and July, these have been witnessing a rapid upward trend, amounting to roughly $2.6 trillion valuations.