PayPal Is Expanding Crypto Team, Hiring 100+ Crypto Positions Globally
August 03 2021 - 2:08AM
NEWSBTC
Payments behemoth PayPal is expanding their crypto personnel. The
company is reportedly hiring over 100 crypto-related employees as
consumer crypto demand continues to grow. Over the past week,
PayPal has been in continued conversations around growing it’s
crypto services. A Lot Of Shoes To Fill While a majority of the job
listings are in the U.S., there are a variety of positions across
the globe – including five listings in Tel Aviv, seven in Guatemala
City, and six between Dublin and Dundalk. Stateside, over twenty
listings are in California, with another fourteen in New York and a
dozen in Austin, TX. There’s a variety of positions in other U.S.
cities as well. Roles run the gambit, as well. Positions include
anything from Enterprise Risk Managers and Operations Managers, to
Legal Directors and Engineers – both on web and mobile. A number of
the roles are for PayPal’s online money transfer service, Xoom, and
for mobile payments app Venmo. PayPal looks to continue investment
in building it's crypto infrastructure, now bringing on a
substantial amount of new team members across the globe. | Source:
NYSE: PYPL on TradingView.com Related Reading | On-Chain Expert
Predicts $162K Bitcoin Peak This Cycle Crypto “Super App” &
More From PayPal Crypto development and expansion for PayPal seem
to be on the up and up. During the company’s second-quarter
earnings call, CEO Dan Schulman stated that “the initial version of
our new new consumer wallet super app is code complete and we are
now beginning to slowly ramp.” Schulman added that features will
likely include “high-yield savings, early access to direct deposit
funds, new and improved bill pay functionality, messaging
capabilities outside of P2P to enable family and friend
communications” and more. Crypto expansion is clearly in full
swing. Another note from Schulman on the recent earnings call was
that crypto services in the U.K. could be unrolled as early as
later this month. Last month, the firm also removed their annual
purchase limit on crypto, and raised their weekly limit to $100K.
The bumps were substantial previous weekly limit was $20K, and
previous annual limit was $50K. These moves look to be the start of
more aggressive maneuvers for PayPal in crypto. “We’re right in the
middle of some open banking integration,” Schulman noted on the
earnings call, which would “increase the ability to fully integrate
it into ACH and do faster payments.” The new crypto job listings
come right on the cusp of PayPal competitor Square releasing strong
year-over-year growth in bitcoin revenue and profits. PayPal crypto
launched in October 2020. Shortly after launch, U.S. customers were
able to buy, sell and store Bitcoin, Litecoin, Ethereum, and
Bitcoin Cash. Could more global access be on the horizon for PayPal
customers? Related Reading | “The Death Of China’s Bitcoin Mining
Industry,” 7 Takeaways From The Article Featured image from
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