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PayPal to Expand Crypto Products to UK Residents
Feb 12 2021 · 09:20 UTC | Updated
Feb 12 2021 · 10:22 by Ibukun Ogundare · 3 min read
Photo: PayPal
CEO Dan Schulman noted that the volume of crypto transactions on PayPal exceeded expectations.
Global online payments company PayPal Holding Inc (NASDAQ: PYPL) has announced that it would be extending its crypto products to the UK. Upon a successful expansion, the UK would be the first market outside the US to enjoy PayPal’s crypto products.
PayPal announced its debut into the crypto market in October last year. At the time of the announcement, the company said that all its eligible account holders in the US could buy, hold, or sell cryptocurrency. PayPal also added that the crypto service would initially support Bitcoin (BTC) and three other digital assets. The other cryptocurrencies backed by the PayPal crypto service are Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC).