Paypal Completes Its Cryptocurrency Quest in the United Kingdom

Paypal Completes Its Cryptocurrency Quest in the United Kingdom

PayPal has stated that the rollout of its cryptocurrency offering in the UK has been completed for all eligible account holders, about a month after the company announced the expansion.

“All eligible PayPal account holders in the United Kingdom can now buy, hold, and sell cryptocurrencies directly through PayPal. To understand more, download the app or log in to your account “On September 17, PayPal released a statement.

The launch in the United Kingdom marks PayPal’s first worldwide expansion of its cryptocurrency services outside of the United States.

PayPal’s business will compete in the UK with established cryptocurrency exchanges like Coinbase Global Inc and fintech startups like Revolut.

Customers will be able to buy bitcoin, ether, Litecoin, and bitcoin cash using their PayPal wallets, which will be available both online and on the mobile app.

“We are committed to continuing to work closely with regulators in the UK and around the world to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce,” said Jose Fernandez da Ponte, PayPal’s vice president, and general manager for blockchain, crypto, and digital currencies.

The San Jose, California-based company is one of the largest mainstream financial companies to allow users access to cryptocurrencies, with over 400 million active accounts worldwide.

Early this year, PayPal opened cryptocurrency buying and selling in the United States, eventually allowing clients to utilize their digital coin holdings to purchase at PayPal’s network of millions of merchants.

Movine Oduor