bitFlyer Europe, one of the largest Japanese cryptocurrency exchanges, has integrated PayPal deposits to their platforms.
It has been reported that the official announcement calls bitFlyer’s integration with PayPal a significant move in bridging the gap between the fiat and cryptocurrency world for European users.
However, while bitFlyer Europe already supports wire card transfers, it takes between one to three days for clearance, as the integration of PayPal is expected to make deposits almost instant.
We have some exciting news! 💥 Making the jump into #cryptocurrency is now easier and faster. You can now use your @PayPal account to deposit funds to purchase cryptocurrencies via #bitFlyer. Start trading today: https://t.co/c1tIKyDSe8 pic.twitter.com/JxPGpyvJtT — bitFlyer Europe (@bitFlyerEU) September 21, 2020
Jacek Bastin, the Business Strategy Manager of bitFlyer Europe, said that the users will now be able to directly deposit euros to their wallet to trade cryptocurrencies.
“bitFlyer charges no handling or processing costs on top of the fees charged by PayPal.”
It has been analyzed that as PayPal has a worldwide user base of more than 340 million and handles almost 35% of all eCommerce transactions in Europe, it may expose a wide number of European netizens to bitFlyer exchange and also cryptocurrencies in general.
European users can now deposit fiat to bitFlyer using PayPal https://t.co/iOQEJt9mph — Cointelegraph (@Cointelegraph) September 21, 2020
Moreover, without disclosing details, Bastin said that bitFlyer Europe was working on other ways to make cryptocurrency trading more accessible and secure.
Thus, besides bitFlyer’s move to expand into the United States and Europe, PayPal is gearing up to innovate using cryptocurrencies and blockchain.