According to reports, as Bitcoin adoption has grown, PayPal has established an encryption team in Ireland

Global payment provider PayPal is hiring several cryptocurrency-related positions for its Irish office, which further highlights the company’s ambitions in the rapidly growing digital asset market.

The Irish Independent, headquartered in Dublin, is one of the most popular news media in the country. Report On Sunday, PayPal is looking for various crypto-focused positions in compliance, anti-money laundering, and business development for its Dublin and Dundalk offices.

related: PayPal will launch encrypted transactions in the UK and may embrace DeFi

Earlier this year, PayPal launched a dedicated encryption and blockchain business unit to support its entry into the cryptocurrency field. The unit initially started in October 2020 to allow U.S. customers to buy Bitcoin (Bitcoin), ether (Ethereum), Bitcoin Cash (Bitcoin cash) And Litecoin (LTC).In March of this year, the company Unfold Its products allow American customers to use their digital assets to pay for goods and services.Two months later, PayPal said it would allow customers Withdraw their cryptocurrency to a third-party wallet.

PayPal CEO Dan Schulman said in April that his company’s encryption business Exceed all expectations In the first six months of its operation. The rapid popularity of digital assets such as Bitcoin and Ethereum coincided with a sharp increase in prices, pushing the entire cryptocurrency market to a valuation of nearly $2.6 trillion.Despite the sharp correction in prices between May and July, the cryptocurrency market seems to have bottomed out and now Trek up again.

In PayPal’s quarterly earnings conference call last week, Schulman stated that the company’s encrypted transaction service will enter the UK in the near future. He said that upgrades that can speed up payment processing are also under development.

related: PayPal users will be able to withdraw cryptocurrencies to external wallets