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September 21, 2020

Cryptocurrency exchange bitFlyer has teamed up with PayPal

By Evie Rusman

Cryptocurrency exchange bitFlyer has integrated with PayPal allowing PayPal’s European users to buy cryptocurrencies securely.

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The integration is part of bitFlyer’s efforts to deliver on their mission of making cryptocurrency trading safer and more accessible globally. It also aims to support and protect customers who may be new to cryptocurrency as well as more experienced traders.

Andy Bryant, COO of bitFlyer Europe, said: “We’re proud to offer users the opportunity to use their PayPal accounts to deposit funds for purchasing crypto. The integration of PayPal adds a new funding source for bitFlyer users. Thousands of bitFlyer users already use PayPal for fiat transactions. Now, users can purchase bitcoin and other cryptocurrencies in the same way too.”

Making crypto more accessible 

According to bitFlyer, the integration will provide its users with an alternative to the traditional deposit payment methods currently accessible via the trading platform, including wire transfers.

Jacek Bastin, Business Strategy Manager at bitFlyer Europe, said: “The cryptocurrency space is still in its infancy, and despite the ecosystem growing, the industry is still daunting for newcomers.

“Given that approximately a third of European e-commerce payments are being processed through PayPal, we are more than thrilled to provide users with a deposit method they know and rely upon. The process to deposit through PayPal is entirely frictionless, secure and reliable, with users to be credited near to instantly.”

bitFlyer Europe launched in January 2018 as a subsidiary of bitFlyer, Inc., a prominent company in the cryptocurrency space in Japan.

To date, bitFlyer is the only cyrptocurrency exchange that is regulated in Japan, the US, and Europe combined.

Earlier this year, the cryptocurrency exchange launched a blockchain consulting service to meet requests from new businesses on blockchain technology. The company noted that its new service will target businesses that are looking at using blockchain technology for the first time.

Free Report
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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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