PayPal Launches Cryptocurrency Services For UK Clients
UK PayPal customers with verified names will soon be able to buy, store and sell cryptocurrencies using a payment service.
The innovation was announced by the global payments provider on 22 August. PayPal’s customers will soon be able to access Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) via the website and mobile app.
Jose Fernandez da Ponte, Senior Executive Director of PayPal’s Cryptocurrency Division, cited “digitization of money” during the pandemic as one of the main reasons for entering cryptocurrency. Plus, PayPal has over 2 million monthly active users in the UK.
Previously, this service was only available to PayPal users in the United States. In addition, the possibility of withdrawing cryptocurrencies to third-party wallets for Americans was considered. Perhaps a similar feature will soon become available to users in the UK.