PayPal Launches Crypto Trading In The UK

PayPal Launches Crypto Trading In The UK

California-based payments giant PayPal Holdings Inc PYPL has expanded its crypto services internationally.

What Happened: According to a press release on Monday, PayPal has opened up crypto trading for its customers based in the U.K., allowing them to buy, sell and hold cryptocurrencies beginning this week.

As of now, the coins available on PayPal’s crypto trading platform are Bitcoin BTC/USD, Ethereum ETH/USD, Litecoin LTC/USD, and Bitcoin Cash BCH/USD.

Customers will be able to buy or sell them through their PayPal wallets online or directly through the mobile app.

"We are committed to continue working closely with regulators in the UK, and around the world, to offer our support— and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce," said Jose Fernandez da Ponte, vice president and general manager for blockchain, crypto, and digital currencies at PayPal.

What Else: Account holders will also have access to educational content to help them understand the cryptocurrency ecosystem, volatility, risks, and opportunities related to purchasing cryptocurrency.

Earlier this year, the payments company moved to increase its purchase limits for U.S.-customers to as high as $100,000 per week.

Read also: Ethereum Overtakes PayPal, Bank Of America, Nike, And Pfizer In Market Cap As Proponents Set Their Eyes On Bitcoin

Following the success of its crypto trading business, PayPal’s President and Chief Executive Officer Dan Schulman revealed that the company is working on a super app that will come with additional crypto capabilities.

Price Action: PayPal shares were trading at $275, up 0.80%  in the pre-market session. At press time, Bitcoin was trading at $50,190, gaining 2% over the past 24-hours.

Posted In: BitcoinBitcoin CashEthereumLitecoinPeter ThieltradingCryptocurrencyNewsGlobalMarketsTech

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