In late August, PayPal announced that it will extend its crypto service to the U.K., allowing customers to buy, sell and hold four different cryptocurrencies on its platform. And today, at last, PayPal made its cryptocurrency service available for all of its customers.
We are delighted to share that all eligible customers in the UK can now buy, hold and sell #Cryptocurrencies #Bitcoin, #Ethereum, #BitcoinCash & #Litecoin from their PayPal account. Look out for it in the PayPal app.
— PayPal UK (@PayPalUK) September 17, 2021
PayPal allows all U.K. users to buy Bitcoin and others
The rollout is the first expansion of PayPal’s crypto offering outside the U.S. At that time, they said that the process will begin this week and should be available to all eligible customers within the next few weeks. And today is that day.
Customers must have verified their identity in order to be eligible. PayPal business accounts will not be supported.
PayPal introduced crypto buying, selling, and holding to U.S. customers last October, a move closely followed by bitcoin attaining new highs for 2020 and one of the sparks that ignited the subsequent crypto bull market. The company has not yet allowed users to move crypto holdings off-platform, though this stance may change.
Jose Fernandez da Ponte, the company’s blockchain lead, said that PayPal strived to contribute to shaping the role of cryptocurrencies in global finance.
“We are committed to continuing working closely with regulators in the UK, and around the world, to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce”, he stated.
In July, massive payouts also opened a number of crypto-related job positions in Ireland.
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