bitFlyer Europe, the subsidiary of one of Japan’s largest crypto exchanges, has integrated PaPal, which will allow its European clients to deposit and purchase tokens directly from their PayPal accounts.
According to the official announcement, the integration between the giant online payment platform and bitFlyer will play a major part in bridging the gap between the crypto space and fiat for European crypto enthusiasts.
Although bitFlyer Europe currently allows wire card transfers, one to three days is required for clearance. PayPal integration will allow customers to make near-instant deposits.
The announcement states that bitFlyer Europe customers can henceforth deposit euros from PayPal directly to their wallets and trade different cryptos. The statement also said that no extra charges would be passed onto the customer. Jacek Bastin, bitFlyer Europe manager in charge of business strategy, clarified:
“bitFlyer charges no handling or processing costs on top of the fees charged by PayPal.”
Since PayPal has about 340 million users globally and handles approximately 35% of the total eCommerce dealings within Europe. It is expected that the integration will help in exposing a wide array of European netizens to the bitFlyer platform, as well as to the crypto world in general.
Without going into details, Bastin revealed that bitFlyer Europe is working on several projects to ensure crypto trading becomes more accessible and secure to everyone.
bitFlyer has embarked on several activities to expand its reach globally with the firm opening branches in Europe and the United States in the recent past. Integration with PayPal is an effort by the firm to attract more crypto enthusiasts and worshippers to its platform.
PayPal has also been gearing up to enhance its innovation by using cryptos as well as blockchain technology. In June this year, PayPal announced it was hiring crypto and blockchain engineers, and it is alleged that the platform is looking on ways it can enable crypto buying for its worldwide users.
In a letter to the European Commission, PayPal stated that it was carefully assessing the worldwide developments in the crypto and blockchain spheres.