The European division of the bitFlyer cryptocurrency exchange announced the integration with the PayPal payment system. Users will be able to buy cryptocurrencies using their accounts in the system.
PayPal is one of the most popular payment systems in Europe – about 35% of payments are made through it. Connecting PayPal to BitFlyer means acceptance of the cryptocurrency industry by the payment system. Jacek Bastin, Business Development Strategy Manager at BitFlyer Europe, said:
“We integrated PayPal in the same way that e-shops do. Integration will remove almost all barriers to access to cryptocurrencies. This is a tremendous achievement and will allow us to advance our mission and make cryptocurrencies more accessible to everyone, especially newbies. “
The company announced that it is preparing to implement cryptocurrency support back in July this year. Now exchange users will be able to use funds in their PayPal accounts to buy cryptocurrencies. At the same time, according to Bastin, the transfer of funds will be carried out “almost instantly.”
BitFlyer Europe became the first cryptocurrency exchange to support deposits via PayPal. Even the American platform Coinbase, which has been cooperating with the payment system for a long time, only allows you to withdraw funds to PayPal accounts.