Key message: PayPal has expanded its services and for UK customers this means they can buy, sell and hold cryptocurrencies directly from their accounts. The company made the announcement on Twitter on Friday. This is the first international expansion.
PayPal and service expansion
Customers will be able to sell, hold and buy Bitcoin, Ethereum, Bitcoin Cash and Litecoin and purchases can be made from as little as £1. As with US customers, UK customers will use Paxos, which holds a New York licence, to facilitate purchases. The UK expansion is the first international expansion since PayPal launched crypto services in the US last October. The company has seen massive success in launching services in the US.
With cryptocurrencies becoming increasingly popular, the launch of crypto services has been accompanied by great success, an increase in revenue and also an increase in engagement from customers. At the same time, in March this year, PayPal enabled cryptocurrency payments to 29 million online merchants worldwide. This success has given the company confidence that such an offering will succeed in the UK. At the same time, the company is committed to continually improving its services to ensure a positive customer experience.
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