PayPal Bringing Crypto Services to UK Customers This Week
One of the world's leading payment providers, PayPal, is rolling out its strategy to expand its crypto services this week, starting with
One of the world’s leading payment providers, PayPal, is rolling out its strategy to expand its crypto services this week, starting with offering its UK customers the power to buy, sell and hold four kinds of digital currencies. This would be the company’s first expansion of crypto services outside of the US, and aligns with its strategy announced in its latest earnings call for an increased focus on this offering.
Over the next few weeks, all eligible customers based in the UK will be able to use their individual PayPal accounts to manage their cryptocurrencies. However, the company is not planning to roll out this feature to business accounts in the UK just yet.
PayPal entered the crypto space late last year as it witnessed a booming interest among consumers in using and trading digital currencies. While PayPal customers can use its platform to buy, sell and hold funds in four different crypto currencies, it does not come with an option to withdraw holdings just yet. However, this is something the company is working on and would roll out to customers in the coming months.
On the PayPal interface, customers will be able to view real-time currency rates of four cryptocurrencies – Bitcoin, Ethereum, Litecoin and Bitcoin Cash. In addition, the platform will also make available informative content for users looking to learn more about digital currencies in a bid to help drive up adoption of this technology.
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