All eligible PayPal users in the UK now have the opportunity to buy, hold and sell four major cryptocurrencies directly from their PayPal accounts, the US-based online payments giant has announced.
According to PayPal UK, the company’s customers in the country now have access to a crypto service supporting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
As announced previously, crypto trading will only be available to PayPal customers with verified identities.
“We are delighted to share that all eligible customers in the UK can now buy, hold and sell Cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash & Litecoin from their PayPal account. Look out for it in the PayPal app,” the company tweeted.
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
While PayPal has only just added the crypto buying services to its platform in the UK, the original press release of the rollout came in August. This was almost a year after the company launched the service for its US market in October 2020.
The availability of the service to crypto users across the United Kingdom sees the firm fulfil the first phase of its planned expansion across the globe.
Apart from supporting the buying, selling or holding of the four supported cryptocurrencies, the crypto feature also gives customers the chance to monitor and track prices in real time.
Customers can also use the application for due diligence, with the interface allowing one to access educational resources about the digital assets.
The company will offer the crypto service in partnership with Paxos Trust Company, a New York-based platform-as-a-service (PAAS) provider.
PayPal’s British crypto launch is a “breath of fresh air,” according to Gregory Klumov, CEO of tokenization firm Stasis. “Since the country is in the world’s top 10 economies, such a milestone will clearly drive the continued adoption of digital assets in Europe and beyond,” he said.
