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PayPal creates a new crypto support team
PayPal creates a new crypto support team
Crypto

PayPal creates a new crypto support team

By Stefania Stimolo - 2 Aug 2021

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The online payments giant PayPal is creating a new crypto support team, hiring for new cryptocurrency-related positions.

According to reports, PayPal continues to open up to digital currencies and is now looking for staff to fill roles around compliance and anti-money laundering controls.

Specifically, the roles include PayPal’s blockchain, crypto and digital currency (BCDC) business unit, which supports the payments giant’s cryptocurrency efforts. In addition, the new crypto-team will be active in its Dublin and Dundalk offices.

This expansion of human resources would aim to help PayPal expand its crypto-focused business offerings to encourage the rapid and easier adoption of Bitcoin and Ethereum.

Already last month, the online payment provider had increased the maximum purchase limit for bitcoin to $100,000 per week and removed the annual limit of $50,000. That’s a five-fold increase on the weekly BTC purchase limit, which was set at $20,000.

PayPal and the crypto team: online payments and cryptocurrencies

The new crypto team under construction will currently work to support the company for the four currencies supported by the online payments giant: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). 

Last week, the PayPal team had stated that the launch of the platform’s new crypto wallet app is in the pipeline. In essence, users could start using the dedicated crypto app by the end of 2021.

A door open only to the world of the United States for the moment that will serve to provide direct access to deposit funds, high-yield savings methods, messaging and other ways to use crypto.

The online payments giant’s strategies indicate that it can no longer underestimate the sector led by bitcoin. Especially after that in June, the platform set a new historical record for daily trading volume in BTC.

Basically, in just one day, more than $300 million worth of bitcoin were traded on PayPal. This is a figure that had only been reached the previous month, but not yet surpassed.

Throughout all this, the price of the queen of crypto seems to have held steady at $40,000 over the weekend, returning as high as $42,500.

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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