20 October 2020
The cryptocurrency exchange BitFlyer aims to help people in European countries in adopting cryptocurrencies. The exchange has come in partnership with global payment service Paypal to enable users to deposit funds in crypto accounts.
Bitflyer Europe shared the news on Sunday that it has integrated PayPal service on its platform similar to how e-commerce websites use it. This integration helps people staying in European countries to purchase cryptocurrencies by depositing Euros to their accounts from PayPal.
Jacek Bastin, bitFlyer business strategy manager said:
“What we have done is that we have integrated PayPal in the same way e-commerce websites would. The integration is all about removing barriers to entry. So that’s a clear milestone for us, and enables us to follow our mission to make crypto more accessible for all, especially newcomers.”
PayPal is the most used digital payment service in Europe as well as other parts of the world and this development is marked as an important one. There is a 35 percent market share of Paypal as a payment service in Europe. As a result, bringing PayPal as a payment option on BitFlyer makes it convenient for people in Europe to buy cryptos with their PayPal accounts.
BitFlyer Europe was launched in 2018 and is a subsidiary of bitFlyer the parent exchange located in Japan. It's not the first time that PayPal is used in the cryptocurrency industry, eToro, a brokerage firm has already added PayPal as a payment service to buy cryptocurrencies.