The European branch of the prominent Japanese crypto firm, bitFlyer, has recently announced that it has integrated PayPal within its services – enabling its Europe-based users to deposit funds or purchase tokens through their personal PayPal accounts. Considering that PayPal is recognized as one of the most utilized payment platforms worldwide today, many see this development as something that may spark an unprecedented boom in crypto adoption.
Although Europe bitFlyer already has wire card transferring offers, it typically takes a day or three to be granted clearance. Now that it has successfully integrated PayPal, processes such as this would be rendered almost instantly, thus, eliminating user frustrations regarding the long processing times.
Europe bitFlyer’s head of business strategy, Jacek Bastin, states that they are ecstatic to have the chance to work with the internet payment giant and to be able to provide their users a more efficient and comfortable way to deposit their assets. This is further expounded by the fact that an approximate third of the total Europe-based e-commerce payments are going through PayPal. Bastin clarified that biFlyer would not enforce any additional charges. Despite the integration, all users have to pay for is the processing fee charged by PayPal.
It has also been widely speculated that other crypto exchanges are trying to get a hold of PayPal as well – wanting to integrate it to their respective services. Apart from its partnership with Coinbase, wherein users may now withdraw their assets through the platform, Europe bitFlyer’s integration is considered as one of the very first to enable crypto purchasing.