The payments giant, PayPal announced on Twitter that all of their customers who are in the UK can now make purchases, sales and cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Bitcoin through their PayPal accounts.
The announcement is a follow -up announcement made on 23 August, which revealed that the organization will expand PayPal’s crypto service to the UK by launching a trading service in the UK. At the same time the PayPal platform has removed restrictions on crypto trading in its apps.
We are delighted to share that all eligible customers in the UK can now buy, hold and sell #Cryptocurrencies #Bitcoin, #Ethereum, #BitcoinCash & #Litecoin from their PayPal account. Look out for it in the PayPal app.
- PayPal UK (@PayPalUK) September 17, 2021
In August, PayPal announced that UK users would be able to check the price of crypto assets directly through their app. Further, Jose Fernandez da Ponte, Vice President and General Manager, Blockchain, Crypto, and Digital Currency at PayPal stressed that the PayPal company will work with regulators to ensure full compliance.
Jose Fernandez noted that PayPal has expertise in digital payments, business and consumer knowledge. Coupled with strict security and compliance will present a unique opportunity to help people in the UK explore crypto more widely. We are committed to continuing to work with regulators in the UK, and around the world
This is the first time PayPal has introduced an encrypted product outside the United States. PayPal launched a crypto trading service in October last year for U.S. customers.
In early April last year, the cryptocurrency exchange Coinbase announced the addition of PayPal payment options for U.S. customers. This has allowed millions of U.S.-based users to add their Paypal debit and credit cards to Coinbase accounts.
This announcement is a positive sentiment for the crypto community.
