PayPal is extending its crypto service to the United Kingdom, allowing customers to buy, sell and hold four different cryptocurrencies on its platform.
Users will be able transact in bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH) for as little as £1 ($1.40), according to the payment giant.
The rollout marks the first expansion of PayPal’s crypto offering outside the United States.
The process will begin this week and is expected be available to all eligible customers within the next few weeks.
Customers must have verified their identity in order to be eligible. PayPal business accounts are not supported.
PayPal introduced crypto buying, selling and holding to U.S. based 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.
PayPal has not yet allowed users to move crypto holdings off-platform, though this might change going forward. Jose Fernandez da Ponte, PayPal’s vice president of blockchain, crypto and digital currencies, said at Consensus 2021 in May that a withdrawal function is in the works.
Source: PayPal Begin To Roll Out Crypto Service to UK Customers This Week – Fintechs.fi