• PayPal has completed the rollout of cryptocurrency trading for UK customers

  • PayPal announced on September 17 that all eligible customers in the United Kingdom can now buy, hold, and sell cryptocurrencies using their PayPal accounts.

    Customers have the option of trading four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). As previously stated, cryptocurrency trading will be restricted to PayPal customers with verified identities.

    PayPal announced plans to enter the British cryptocurrency market in late August, immediately launching a limited set of crypto trading services. This is the first time PayPal’s cryptocurrency services have been offered outside of the United States.

    A PayPal spokesperson told ULTCOIN365, “PayPal gradually rolled out its new crypto service to its UK customers.” That procedure is now complete,“ he adds.

    “Before we begin to roll out more features and functionality, we want to learn and observe how our customers use our buy, hold, and sell crypto offering.”

    PayPal’s entry into the local cryptocurrency market comes at a time when some UK banks are closing payment channels to exchanges. HSBC, the world’s largest bank, announced in August that it was suspending credit card payments to Binance due to “concerns about potential risks” to its customers. Other banks, such as Barclays and NatWest, had previously blocked Binance transactions.

    According to Gregory Klumov, CEO of tokenization firm Stasis, PayPal’s British crypto launch is a “breath of fresh air.” “Because the country is among the top ten economies in the world, such a milestone will undoubtedly drive the continued adoption of digital assets in Europe and beyond,” he said.

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