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PayPal has commenced the recruitment of staff for its offices in Ireland for several cryptocurrency-related positions. This move signals the company’s plans in expanding its presence in the fast-growing digital asset market. According to report by the Irish Independent newspaper.

PayPal and Bitcoin

According to its data, vacancies for offices in Dublin and Dundalk are focused on work in the field of compliance with regulatory requirements for the circulation of cryptocurrency and combating money laundering, as well as on the further development of business in this segment.

Earlier this year, PayPal unveiled a dedicated cryptocurrency and blockchain business unit to operate in a new market for itself; which it began developing in October 2020, allowing customers in the United States to buy Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash ( BCH) and Litecoin (LTC).

In March of this year, the company expanded its offering by launching a new service that allowed US customers to pay for goods and services using their existing digital assets. Two months later, PayPal said it would allow customers to withdraw virtual currencies to third-party wallets as well.

PayPal CEO Dan Schulman said in April that the company’s cryptocurrency business exceeded expectations in its first six months of operation. The rapid proliferation of digital assets such as Bitcoin and Ethereum coincided with a huge spike in prices; that pushed the cryptocurrency market to nearly $ 2.6 trillion. Although cryptocurrency prices plummeted between May and July, they have now begun to move upward again.

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Last week, during the PayPal quarterly report, Schulman announced plans to launch a cryptocurrency service in the United Kingdom in the very near future. He added that the company is also in the process of developing updates that will speed up payment processing.

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