Customers in the United Kingdom will be able to trade a variety of cryptocurrencies using Paypal which is already been started.
PayPal UK said in a statement that it is “delighted” to announce that all qualified clients in the UK can now use their accounts to buy, hold, and trade the Cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Additionally, users will have access to real-time cryptocurrency values as well as educational content.
In a statement, PayPal’s Vice President and General Manager of Blockchain, Crypto, and Digital Currencies, Jose Fernandez da Ponte, said:
Customers in the United Kingdom will be able to acquire digital currencies for as little as £1 using their bank account or debit card.
They will join PayPal customers in the United States, who have been allowed to send crypto payments to businesses through the PayPal app since early 2021.
According to a PayPal representative, the American multinational is dedicated to working closely with British regulators to help shape the role of digital currencies in the global financial system.
According to PayPal, the platform has approximately 375 million daily active users and 30 million merchants.
While there is no price for holding cryptocurrencies, the company does charge customers for transactions and currency conversions.
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