Affirm Holdings Inc (NASDAQ:AFRM), a U.S.-based buy now, pay later provider, launched its service in the UK on Monday, marking its first overseas expansion. CEO Max Levchin said Affirm chose the UK due to strong demand from British merchants, describing it as "a huge market, it's English-speaking."

Affirm's launch coincides with the UK government's plan to regulate BNPL services to ensure consumer protection. Levchin supports these efforts, noting, "We welcome regulation that is thoughtful…but also knows how not to be too cumbersome on the end-customer."

Authorized by the Financial Conduct Authority, Affirm's UK service will offer interest-free and interest-bearing monthly payment options.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote