PayPal Extends Crypto Services to UK

PayPal users in the United Kingdom would also now have access to the crypto services that were hitherto exclusive to its users in the US alone.

This was contained in a statement released by the payment gateway giant that its users in the UK can now trade digital assets like Bitcoin, Ethereum, Litecoin and Bitcoin Cash via the platform’s official website and its mobile application.

The Dan Schulman-led firm first began its crypto services for its users in November last year. Then, a senior executive for PayPal’s crypto division, Jose Fernandez da Ponte, had said the firm was getting into the crypto space due to the “digitization of money.”

Available data since when PayPal began its crypto operations show that the fintech firm has enjoyed tremendous success. Dan Schulman had attributed the major earnings of the firm’s first quarter to its burgeoning crypto services. And recently, the firm increased the amount of cryptocurrencies that its users could buy within a week to $100,000.

Interestingly, despite the growing regulatory clampdowns ongoing in the UK, interest in the digital asset space is increasing. This means that PayPal could play a pivotal role in helping to push crypto mainstream in the country as the firm currently has over 2 million monthly active users in the country.

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