Starting this week, residents of the UK will be able to purchase, hold, and sell cryptos through PayPal for the first time, according to a report by PayPal Newsroom on Monday.
- The global payments provider stated on Sunday that U.K. customers will soon have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) via PayPal’s website and mobile app.
- The move marks the first expansion of PayPal’s cryptocurrency services beyond the United States-a service that first started in November of last year.
- Jose Fernandez da Ponte, a senior executive for PayPal’s crypto division stated that digitization of money during the pandemic was one of the primary drivers for entering crypto in the first place.
- By providing its cryptocurrency services to U.K. residents, PayPal will play an important role in increasing exposure to digital assets in the country.
Among all еру European countries, PayPal penetration is the highest in the U.K. at over 2 million monthly active users. The U.K.’s Financial Conduct Authority (FCA) is increasingly cracking down on cryptocurrency exchanges that do not comply with its registration requirements.
BTC USD up +1.95%, ETH USD +2.78%, LTC USD up +1.66%, BCH USD up +1.93%.