PayPal expands crypto services to the UK
Leading online payment platform PayPal announced earlier today that it had expanded its cryptocurrency trading services to its users in the United Kingdom. The move comes after PayPal launched the service in the United States late last year.The company stated that it intends to expand the service to its millions of customers across Europe and other parts of the world. The company's head of crypto and blockchain, Jose Fernandez da Ponte said PayPal is "committed to continue working 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."
This latest development will allow UK residents to buy, hold, and sell several cryptocurrencies, including Bitcoin using PayPal.
UK traders have more options
The addition of PayPal to the mix makes it easier for UK residents to gain access to Bitcoin and a wide range of cryptocurrencies. UK customers can use other fintech apps like Revolut to buy, hold and sell bitcoins.In addition to that, they have cryptocurrency exchanges like Coinbase to buy cryptos. PayPal launched its cryptocurrency trading service last year. However, the service was limited to US traders until now. PayPal is also reportedly working on launching its cryptocurrency app soon.
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