BitFlyer, one of the largest Japanese crypto exchanges has linked up with payment giant PayPal to facilitate FIAT-to-crypto transactions within its European subsidiary.
According to a press release, the partnership enables BitFlyer users to deposit into the exchange via PayPal. In this way, BitFlyer is aiming to bridge the gap between FIAT and crypto payments for European consumers.
PayPal remains one of the most reliable e-currency payment options, despite being suspended in some markets in Europe.
The integration allows to replace wire card transfers by faster and reliable depositing option. It is expected that the transaction time to become instant following the integration. BitFlyer will not charge any transaction fees besides fees from PayPal.
“Thanks to the move, consumers will now be able to use their euro currency and trade it for crypto,” Jacek Bastin, Europe business strategy manager said in a statement.
Strategically, the partnership will allow BitFlyer to raise awareness about its offer among online consumers in in EU countries.