Photo: PayPal News / Twitter
, that is a worldwide-known exchange and services provider based in the United States, regularly makes headlines. The explanation is simple: the company is actively expanding its services and geography trying to reach the widest audience. What’s more, the results of its activity were noted even by Forbes, as the firm was in its 2019 List.
Now we have one more reason to speak about . It has announced that residents of European Union as well as people living in the countries of European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway and Switzerland, have an opportunity to make fiat currency withdrawals to popular online payment system .
PayPal Withdrawal Support
Earlier, European of this San Francisco-based exchange had an opportunity to withdraw their fiat funds only via Single Euro Payments Area (SEPA) and UK Faster Payments Scheme (FPS) systems. Though these options are also rather popular in the region, the popularity of PayPal is much higher which means that this option used to be much more demanded.
Nevertheless, it’s not the first experience of in collaborating with PayPal. In summer 2016, the platform had integrated support for PayPal for the first time but some technical difficulties became a reason to terminate the service some weeks later.
As Coinspeaker has , the platform relaunched PayPal withdrawals for its in the U.S. making it possible for them to move their U.S. dollars, UK pounds, and euros to their PayPal accounts from without paying a fee.
Paypal and Blockchain
Being a traditional e-payment system, PayPal has a rather controversial attitude towards the crypto industry. As for Q3 2018, the company had over 254 million active users worldwide, nevertheless, given the potential of and the opportunities that they open in front of in the sphere of instant payments, PayPal cannot but feel a rather serious competition.
But as it was claimed by the company’s co-founder Luke Nosek, the initial goal of PayPal was rather close to the idea staying behind the crypto. Initially, the company wanted to create an independent global currency that wouldn’t be affected by external factors, including the influence from the side of banks and governments.
Speaking about the achievements of the company, he :
“We succeeded at building something that was economically very powerful, enabled by many small businesses, and we’re super proud of it, but we never achieved the mission.”
An interesting thing about this online payment system platform is that it tried to avoid implementation of till December 2018. In December, it a reward system for employees based on technology. This system is considered to be a motivating tool to encourage the staff to take part in innovation-related programs.
Moreover, earlier last year it was revealed that the platform also filed a patent application to ensure the higher speed of virtual currency transactions.
Published at Thu, 07 Feb 2019 09:04:05 +0000
