bitFlyer Europe: PayPal integration builds fiat-crypto bridge

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bitFlyer Europe now also offers deposits via PayPal.

The European subsidiary of the Japanese cryptocurrency exchange bitFlyer now also offers PayPal deposits on its platform

In the official announcement , bitFlyer says the integration of the internet payment giant is a significant step in building a bridge between fiat and cryptocurrencies for European users.

bitFlyer Europe already offers credit card deposits and withdrawals, but processing takes one to three days. With the integration of Immediate Bitcoin, deposits should be processed almost immediately.

BitFlyer Europe users can now deposit euros directly into their wallet and then trade in cryptocurrencies, said Jacek Bastin, the chief strategist of bitFlyer Europe, to Cointelegraph. He said: “bitFlyer does not charge any processing or handling costs. Only PayPal fees apply.”

Since PayPal has over 340 million users worldwide and almost 35 percent of all eCommerce transactions in Europe are processed via the platform, the integration offers European bitFlyer users easier access to the exchange and also to crypto currencies in general.

Bastin indicated that bitFlyer Europe would work on other ways to make cryptocurrency trading more accessible and secure

bitFlyer is currently expanding into the United States and Europe. PayPal also gives the impression that the company has more plans for cryptocurrencies and blockchain.

Cointelegraph reported in June that PayPal was looking for crypto and blockchain developers. There were also rumors that the payment giant was planning to introduce direct purchases of cryptocurrencies.

In a letter from PayPal to the European Commission, it was also clearly stated that the company was continuously monitoring and weighing global developments in the blockchain and cryptocurrencies sector . The letter also said PayPal would take “unilateral and tangible steps” to move forward in this area.