Global payments company Paypal is looking to hire new hands in Ireland as its involvement in the crypto business expands. This will enable PayPal to expand its crypto-focused business.
PayPal, the global payments company, is hiring for many cryptocurrency-related posts at its Ireland headquarters, highlighting the business’s ambitions in the fast-rising digital asset sector.
PayPal is looking to fill several crypto-focused posts 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 entrance into cryptocurrencies, which began in October 2020 with the purchase of Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) by clients in the United States (LTC).
The company expanded its offering in March of this year, allowing US clients to pay for products and services with their digital asset holdings. PayPal said two months later that clients would be able to withdraw their cryptocurrency 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 tremendous price increase that brought the whole cryptocurrency market to a worth of about $2.6 trillion.
Crypto markets look to have hit a bottom and are now travelling higher again, after a significant correction between May and July.
Schulman stated on PayPal’s quarterly results call last week that the company’s crypto trading business would be arriving at the UK in the near future. Upgrades to allow for faster payment processing are also in the works, according to him.
