PayPal, which provides online payment and money sending/receiving service, gave big news for the crypto money world today. In its announcement, the platform announced that it will start the buying, selling and custody processes of cryptocurrencies in the United Kingdom. For those who want to make crypto money transactions on PayPal, only selected cryptocurrencies will be offered at the moment.
Those who want to make crypto money processes at PayPal will be able to do their processes via Bitcoin, Bitcoin Cash, Ethereum and Litecoin, the leading units of the department. PayPal users in the UK will be able to process their transactions from this week. Users will be able to open a process with as little as 1 pound. They will also be able to instantly track the prices of cryptocurrencies and access educational content.
The service, which was first launched in the USA, has progressed successfully:
PayPal first launched its cryptocurrency buying, selling, and custody processes in the United States in October 2020. Making a statement about the opening of the processes in the UK, PayPal’s Blockchain General Manager Jose Fernandez de Ponte explained that the service was successful in the USA, and that they expect the same success to be seen in the UK.
The processes to be carried out through PayPal will take place thanks to the New York-based crypto money company Paxos. PayPal stated that it has obtained the necessary permissions from the authorities of the country to open the processes in the United Kingdom.
- This content is not investment advice.