According to the latest reports, PayPal is launching its cryptocurrency service in the UK. The US online payment giant said on Monday that starting this week, it will allow British customers to buy, hold and sell digital currencies. This marked the first international expansion of PayPal’s encryption product, which was first launched in the United States in October last year.
Jose Fernandez da Ponte, general manager of PayPal encryption and digital currency blockchain, told the media: PayPal has been doing very well in the United States. We expect it to perform well in the United Kingdom.
It is understood that PayPal’s encryption function allows customers to buy or sell Bitcoin, Bitcoin Cash, Ethereum or Litecoin at a price as low as 1 pound. Users can also track the price of the cryptocurrency in real-time and find educational content on the market.
Like the US version, PayPal’s products in the UK also rely on Paxos, a digital currency company regulated by New York. PayPal said it has cooperated with relevant UK regulators to launch this service.
