Payments giant Paypal is hiring more than 100 crypto-related positions as demand for cryptocurrencies grows. Paypal’s CEO recently revealed the company’s expansion plans, stating, “We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that.”
- Paypal is hiring more than 100 crypto-related positions as the company prepares to expand its crypto services. According to Job postings on the company’s website, there are at least 102 job openings related to cryptocurrency and blockchain technology at the time of writing.
- While most of the jobs are located in the U.S., there are five job postings for positions in Tel Aviv, Israel, six in Ireland, one in Singapore, one in Hong Kong, and five in Guatemala City for Paypal’s online money transfer service, Xoom.
- Within the U.S., 22 jobs are in California; 16 in New York; 13 in Texas; 9 in Arizona; and 8 in Illinois. A few other states have less than five jobs posted each.
- 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.
- Paypal CEO Dan Schulman outlined during the company’s earnings call last week a number of ways the payments giant is expanding its crypto services, including launching a “super app,” open banking integration, U.K. expansion, and third-part wallet transfers.
- The CEO said:
We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that.
- The company said in the first quarter that its crypto service showed “really great results.” In April, Schulman said the demand for cryptocurrencies on the Paypal platform was “multiple-fold” initial expectations.
- Paypal recently increased its weekly crypto purchase limit to $100,000 and removed the annual limit altogether. This was a five-fold increase from the previous weekly limit of $20,000 and a substantial increase from the annual purchase limit of $50,000.
- A recent report shows the number of global crypto users reached 221 million in June. The number rose from 100 million to 200 million within only four months.