PayPal is growing its crypto team and hiring 100+ crypto positions around the world.
Payments colossus PayPal is beefing up its crypto team.As consumer demand for cryptocurrency grows, the company is apparently employing over 100 crypto-related personnel. PayPal has been in discussions about expanding its crypto services over the past week.
There Are A Lot Of Shoes To Fill
While the majority of the job postings are in the United States, there are roles available all over the world, including five in Tel Aviv, seven in Guatemala City, and six in Dublin and Dundalk. California has almost twenty listings, with another fourteen in New York and a dozen in Austin, Texas. Other cities in the United States also have a range of job openings.
Roles come in all shapes and sizes. On the online and on mobile, positions range from Enterprise Risk Managers and Operations Managers to Legal Directors and Engineers.
Several of the positions are for Xoom, PayPal's online money transfer service, and Venmo, PayPal's mobile payments app. PayPal's Crypto "Super App" and More
PayPal's cryptocurrency development and expansion appear to be on the rise. “The initial iteration of our new new consumer wallet super app is code complete and we are now beginning to slowly ramp,” CEO Dan Schulman said during the company's second-quarter earnings call. “High-yield savings,” “early access to direct deposit funds,” “new and better bill pay functionality,” “messaging capabilities outside of P2P to enable family and friend communications,” and other improvements are expected, according to Schulman.
Cryptocurrency expansion is certainly underway. Schulman also mentioned on the latest earnings call that crypto services in the United Kingdom could launch as soon as later this month.
Last month, the company abolished its yearly crypto buy cap and increased the weekly maximum to $100,000.
The increases were significant; previously, the weekly cap was $20K, and the annual limit was $50K. These actions appear to be the beginning of PayPal's crypto-aggression.On the results call, Schulman stated, "We're right in the middle of some open banking integration," which would "improve the potential to fully integrate it into ACH and perform speedier payments."
The new crypto job advertisements arrive on the heels of PayPal competitor Square reporting substantial year-over-year revenue and profit growth in bitcoin.
In October of 2020, PayPal debuted its cryptocurrency. Customers in the United States were able to purchase, sell, and store Bitcoin, Litecoin, Ethereum, and Bitcoin Cash shortly after the platform launched. Is it possible that PayPal customers will have broader global access in the future?