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.
According to job postings on the company’s website, there is at 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.
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.
“We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that,” he said.
The company also announced it is developing a new wallet dubbed “super app,” open banking integration, U.K. expansion, and third-party wallet transfers.
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, Ether, Bitcoin Cash, and Litecoin.
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.
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.