Payments behemoth Paypal has decided to hire more than 100 crypto experts as the company prepares to expand its crypto services.
According to job postings on the company’s website, there is least 102 job openings connected to cryptocurrency and blockchain that include crypto-focused roles in compliance, anti-money laundering and business development for its Irish offices as well in the U.S., Israel, Singapore, Hong Kong, and Guatemala City regarding Paypal’s online money transfer service, Xoom.
The positions range from crypto engineering managers, program managers, strategy managers, and blockchain AML analytics managers, to investigators, operations managers, crypto investigations specialists, crypto tax reporting managers, and crypto legal directors.
Topping all expectations
Paypal CEO Dan Schulman recently confirmed the company will “continue to be pleased with the momentum it is seeing on crypto” and that it will be “adding incremental functionality into that”.
The company also announced it is developing a new wallet dubbed “super app,” open banking integration, U.K. expansion, and third-party wallet transfers.
Its crypto business topped projections in its first six months of operations. Superfast growth of digital assets such as Bitcoin and Ethereum were accompanied by a massive price surge that pushed the overall cryptocurrency market to a $2.6 trillion valuation.
PayPal launched its crypto and blockchain business unit earlier this year to support its raid of cryptocurrencies, which initially began in October 2020 after it allowed customers in the United States to buy Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
In March this year, the company expanded its offering by allowing U.S. customers to pay for goods and services using crypto. In May, the company enabled its users to withdraw their cryptocurrencies to third-party wallets.
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