PayPal looks to form a cryptocurrency team in Ireland hoping to enhance its crypto support by assembling a digital asset team in the country as we can see more in our latest crypto news today.
The American payments processor PayPal will expand its digital asset endeavors by creating a designated crypto team in Ireland and the company seems to be ready to broaden its scope to other countries as well. According to the local media, PayPal looks to form a crypto team in Ireland outlining the company’s ambitions to embrace the digital asset market. The future employees will fill their roles in anti-money laundering,b business development, and compliance so PayPal will be the team in Dublin and Dundalk. The move came after the Irish residents were showing a strogn interest in virtual assets and it is unclear whether PayPal will expand its crypto scope to other nations.
It is also worth noting that at the end of March, the company allowed US consumers to use crypto to pay at various merchants that the payment processor supports as its CEO Dan Schulman pointed out:
“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet.”
When announcing its Q1 2021 results, PayPal’s CEO noted digital assets as major driving forces behind the increases in revenue and user activity:
“We’ve got a tremendous amount of really great results going on tactically with our crypto efforts.”PayPal’s Crypto ‘Super App Wallet’
The company continued bolstering the ambitions towards deeper digital asset adoption and announced that it will roll out its new app wallet for US users. It will provide more crypto capabilities to make direct funds and high field savings. Schulman assured that the app is “code complete” and each account will be unique and driven by advanced AI and machine learning capabilities. The payment giant plans to introduce new services in the next few months but it remains unclear whether the company will expand the app in other countries outside of the USA.
As recently reported, PayPal’s CEO Dan Schulman announced that a new super app wallet that will ensure additional crypto capabilities for the users. PayPal will take another step in its crypto endeavors and will roll out a “super app wallet” for all American users and the company will launch the upgraded version in the next few months. The chief executive officer Dan Schulman revealed during the PayPal Q2 2021 Earnings Call that the company will enhance its digital asset services by offering the users an upgraded version of the application.
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