Prominent payments firm, PayPal entered the crypto-verse and changed the market forever. The emergence of the crypto industry was identified by this major platform and it made a timely move with its entrance into the market. With an intention of further sprucing up its crypto game, it decided to expand its digital asset services all across the globe.
Back in August, PayPal had announced its interest in venturing into the UK. While the payments firm already has a well-established base all around the world, it was just starting to incorporate crypto into its system. Today, the firm finally revealed that it had opened the doors to its crypto services to all eligible customers of the UK.
With this announcement, the payments giant noted that UK customers would be able to buy, sell as well as hold an array of cryptocurrencies. This service was originally expected to go live back in the last week of August itself.
PayPal takes its crypto business to the UK
UK users would be able to choose from a wide range of crypto assets that include, Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] as well as Bitcoin Cash [BCH]. While the platform currently offers only four crypto assets, the community was seen urging it to add a few more prominent ones like XRP.
In its initial announcement PayPal’s Vice President and General Manager, Blockchain, Crypto and Digital Currencies, Fernandez da Ponte, stated that the firm intends to closely work with regulators in the UK. He also added that the payments giant wanted to “meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”
The payments facilitator took to Twitter to announce the commencement of this service. The tweet,
“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.”
Taking its crypto business into the UK would be considered PayPal’s first international expansion after the United States. The fervor around crypto could certainly surge in the UK as a fully established brand like PayPal had entered the game.