Copy link
Increase text size
Decrease text size
Link copied

Paypal’s crypto services will soon be available to UK users

U.K. Paypal users will soon be able to buy, sell, and hold cryptos as the payments giant expands its crypto service internationally.

Image by Free-Photos from Pixabay

Wed, 17 Feb 2021, 06:58 am UTC

Paypal is reportedly planning to expand its crypto services to U.K. users of the platform. The move is part of the payments giant’s plans to roll out the cryptocurrency functionality to international markets.

U.K. users will soon be able to buy, sell and hold cryptocurrencies like Bitcoin (BTC) and Ether (ETH) in the coming months, according to Bitcoin.com. Paypal executive chief strategy and growth officer Jonathan Auerbach revealed that the firm plans to deploy its crypto services in the region during the recent Investor Day 2021 event.

The move is part of Paypal’s thrust to expand the popular crypto services to its international customers. The crypto product, which first launched for U.S. users last year, proved to be very popular with customers that it has surpassed the company’s expectations.

“We’re actually looking at our crypto services to help position Paypal, to help shape the role of cryptocurrencies and CBDCs in consumer payments, commerce, and financial services safely and securely,” Auerbach said. He also added that although “so early days for us here, but we’re moving rapidly.”

After months of speculations, Paypal officially confirmed its crypto product in October 2020. The new service allows users to buy, sell and hold cryptocurrencies supported by the platform such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Lite Coin (LTC). However, the service was initially available only for U.S. customers.

Paypal started rolling out the crypto feature by November, which quickly became a hit with the platform’s users. “We’ve only rolled this out to 10% of our base,” Paypal CEO Dan Schulman said. “We did that a couple of days ago. But our waiting list is 2 to 3 times what our expectations were.”

During the Investor’s Day event, Paypal also announced that the crypto feature will be available to Venmo users in the first semester of 2021. Venmo is a payment app that Paypal acquired in 2014.

Paypal previously announced plans of putting up a crypto business unit this quarter. “We are significantly investing in our new crypto, blockchain, and digital currencies business unit in order to help shape this more inclusive future,” Schulman explained.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $51,548.00 (+1.92%)
  • Ethereum (eth) $1,778.96 (+5.71%)
  • Tether (usdt) $1.00 (-0.14%)
  • Binance Coin (bnb) $235.39 (-1.26%)
  • Cardano (ada) $1.11 (-2.19%)
  • Bitcoin (btc) $51,548.00 (+1.92%)
Mar 8, 2021 (Monday)
14:36
BTC Drops by 1.13% Within 5 Mins, Marking 50,320.36 USDT
13:24
BTC Surges by 1.0% Within 5 Mins, Marking 50,888.3 USDT
10:19
Geth v1.10.1 Released
10:17
ICON (ICX) Unaffected By South Korean Tax Investigation Into ICONLOOP, Says Chairman
10:15
ETC Group To Launch Ethereum ETP On Deutsche Borse
10:00
BTC Tops List Of Crypto Net Outflow With $470.34 Mln In Past 18 Hours
09:49
Central Bank Of France Eyes XRP As Basis For Digital Euro
09:39
Art & entertainment NFT creation and trading platform Curio tweeted to reveal that all 250 editions of the Technical Boy NFT have been sold out in 5 minutes.
09:26
Decentralized lending platform Ruler Protocol announced to support flash loan.
08:52
Argo Blockchain Completes Texas Land Purchase To Build Bitcoin Mining Facility
08:50
Atari To Launch Crypto Casino In Ethereum-Based Virtual World
08:20
Peter Brandt Believes There’s 50% Chance Bitcoin Will Go To $1 Million
07:36
NFT Global Reveals That Soribada’s Corporate Crisis Has Nothing To Do With SOBA Project
07:27
OKEx Lists Velo's Native Asset, VELO, For Spot Trading
07:04
Norway's Aker ASA Sets Up Bitcoin Unit
06:21
The Number Of BTC Held On Exchanges Crashed 20% In 12 Months
06:20
If Ripple Goes Away, XRP Will Keep Trading: CEO Brad Garlinghouse
06:19
Chainlink announced that decentralized finance protocol Set Protocl has integrated with DPL/USD price feed.
06:16
PolkaFoundry To Postpone IDO Plan
06:12
UFC Announces Regional Partnerships With Top Crypto-Only Sportsbook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft