PayPal, the massive online payment service, reportedly wants to be cryptocurrency expanding services in Ireland. PayPal is currently in the process of setting up a new crypto team in Ireland. The Irish Independent on August 1.
According to the publication, PayPal has already started assembling a small team in Ireland to further expand in the crypto market. Across multiple offices in Dublin and Dundalk, PayPal has begun hiring people for crypto-related positions, mainly related to compliance and anti-money laundering, the Independent says.
PayPal announced itself last week that it will soon expand its crypto services to the United Kingdom. The company’s crypto trading service may launch in the UK as early as next month, but that doesn’t include Ireland.
The major payment processor entered the world of crypto at the end of last year and immediately provided a major boost in the adoption as well as the prices of crypto as bitcoin (BTC) in ethereum (ETH). Last week, PayPal presented its quarterly results and it showed that the company’s crypto service is a huge success. During the presentation CEO Dan Schulman also announced that the so-called “super app” crypto wallet of the company is almost finished and may launch soon.
At the end of May, Bank of New York founded Mellon (BNY Mellon), the oldest bank in the United States and the largest custodian in the world, already set up a dedicated crypto branch in Ireland. Despite this, a director of the Bank of Ireland, Derville Rowland, said, recently that crypto is of great concern to him and that “people should be aware that they could lose their entire investment.” Recently we have seen many central banks lashing out at crypto, but the effect of this fear, uncertainty & doubt (FUD) appears to be weakening further.
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