Leading cryptocurrency exchange bitFlyer has announced an integration with global payments platform PayPal.
The integration means that PayPal’s millions of European users can now deposit funds to the bitFlyer Europe platform to buy cryptocurrencies safely and securely. The integration is the latest step by bitFlyer to deliver on their mission of making cryptocurrency trading safer and more accessible globally, and to support and protect users 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.”
The integration provides bitFlyer users with an alternative to the traditional deposit payment methods currently accessible via the bitFlyer Europe trading platform, including wire transfers. Traditional payment methods can often take up to three business days for deposits to clear. With PayPal, deposits are typically nearly instant.
Jacek Bastin, Business Strategy Manager at bitFlyer Europe, added: “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 fully owned subsidiary of bitFlyer, Inc., a household name in the cryptocurrency space in Japan, and one of the longest-standing cryptocurrency exchanges. bitFlyer is the only cryptocurrency exchange that is regulated in Japan, the US and Europe combined, and has also been recognised as one of only 10 exchanges that isn’t faking trading volumes.