The most important day for Paypal after secured integration with BitFlyer to enter the crypto space.
Paypal wants the piece of the crypto pie and is entering now this space thanks to the integration with the giant exchange BitFlyer.
The pros of the integration
- BitFlyer Europe has announced that customers can now deposit cryptocurrencies on its platform using PayPal.
- The integration serves to further remove barriers to entry for bitFlyer’s European users.
- The company is the European subsidiary of one of the oldest and biggest Japanese cryptocurrency exchanges.
Cryptocurrency exchange bitFlyer announced today that its European users can now deposit funds and buy tokens using their PayPal accounts.
Other cryptocurrency exchanges have reportedly been working with PayPal to integrate their services with the leading fiat payment platform, and Coinbase enables withdrawals via the payment provider. BitFlyer integration is one of the first to officially enable the purchase of cryptocurrencies — which leads to a potential boom for adoption.
It also makes PayPal one of the most prominent mainstream companies to offer cryptocurrency in Europe adding more to the strong crypto competition US publicly-traded Square and Robinhood, monsters companies offering cryptocurrency integration services.
The integration means that PayPal users that makes 35% market share — can now easily deposit funds to the bitFlyer Europe platform to almost instantly buy cryptocurrency. The new service will go a long way to removing barriers to entry, providing an alternative to money transfers — which can take up to three days for deposits to clear.
Resources
https://decrypt.co/42439/bitflyer-integrates-with-paypal-for-easy-access-to-bitcoin
https://www.crowdfundinsider.com/2020/09/167031-crypto-exchange-bitflyer-europe-announces-integration-with-global-payments-platform-paypal/