According to The Irish Independent, PayPal has started opening several but highly critical cryptocurrency-related jobs in Ireland. This is to fill up the required personnel for its crypto-centered business in the country.
But it can be remembered that last April, PayPal relocated its 131 Irish-based employees to other countries. But the online payments giant has made it clear that it remains committed to providing jobs to residents of Ireland.
PayPal crypto venture
Last October 2020, Paypal dominated the headlines when it finally opened its vast global network for cryptocurrencies. Given the size and worldwide clout of PayPal, this decision can certainly catapult the crypto industry to new heights.
This decision has also led bitcoin to rise sharply, a sign that investors are hoping for a breakthrough on cryptos after the PayPal move. After the big announcement, the decision was followed by a cryptocurrency check-out feature which was rolled out last March.
On top of these things, PayPal CEO Dan Schulman said that the company is all geared to introduce its cryptocurrency services in the UK this August.
Also, it is currently developing a crypto withdrawal feature that only offers IOU notes, which is expected to raise a lot of eyebrows from Bitcoin enthusiasts.
Crypto competitors
PayPal is not alone in establishing a crypto foothold in Ireland. America’s largest bank, BNY Mellon, also established a crypto business unit in the country last May. Gemini Exchange has landed in Dublin for its planned expansion in Europe.
Cryptocurrency exchange Kraken is also planning to establish a presence in the country, which also means competing for crypto customers with PayPal. More cryptocurrency companies are expected to set foot in Ireland which would position the country as one of the most crypto-friendly places in the world.
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