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Paypal is building a crypto team in Ireland

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Global payment provider PayPal is preparing to recruit for several positions related to cryptocurrencies to its office in Ireland. PayPal’s goal is to show its commitment to cryptocurrency and expand its presence in the digital asset market.

According to the Independent.ie, PayPal is planning to set new branches that related to anti-money laundering checks, compliance, and business development.

PayPal established a crypto and blockchain business unit last year to assist its entrance into cryptocurrencies which began in October 2020. It allowed its clients in the United States to buy Bitcoin, Ether, Bitcoin Cash, and Litecoin. The company recently expanded its services and it started to allow its users to use cryptocurrencies to pay for goods and services. Also, PayPal has been allowing its users to use third-party wallets since May. Previously, PayPal announced its new-coming application for crypto trading and the company promised that the app will include high-yield savings, access to direct deposit funds, messaging, additional crypto features and more. Moreover, it claims that each wallet will be “unique with advanced artificial intelligence and machine learning capabilities.”

Dan Schulman who is the CEO of PayPal stated that the company met and exceed all expectations in the first six months of its cryptocurrency operations. The global cryptocurrency market is now valued at $2.6 trillion, thanks to the popularity of assets like Bitcoin and Ethereum. Despite a steep drop in prices between May and July, the cryptocurrency markets appear to have resumed their upward trend. Schulman recently stated at his company’s revenue conference that the company’s crypto services could be available in the UK soon. The reason behind this motive is explained by Schulman who emphasized that the company pleased the momentum in crypto. In addition, with the new improvements, the organization is focused on making payment processes faster and better.

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