PayPal Opens Its Platform for Buying and Selling Cryptocurrencies in the United Kingdom

paypal reported later this week that it will launch its cryptocurrency services in the United Kingdom, which will allow its customers in the country to buy cryptocurrencies and hold them in their accounts within its platform. This will be your first crypto forest outside the United States.

According to the announcement, its crypto services will be expanded effective from this weekTo. The offer will be similar to the one available in the European Union, paypal Will allow UK citizens to buy four cryptocurrencies from its platform: Bitcoin, bitcoin cash handjob ethereum And litecoin

Jose Fernandez da Ponte, General Manager paypal For blockchain, crypto and digital currencies, he expects demand to be higher, adding that “the service worked great in the US. We expect it to work similarly in the UK.”

Service paypal will continue to use paxos As one of its key partners to offer this functionality.

paxos is a regulated cryptocurrency company based in New York. According to CNBC, the company has contacted UK regulators regarding the service to ensure compliance with existing laws.

The platform’s promise of international expansion came up with the idea last year, but progress was yet to come. In July this year, Dan Shulman, the company’s CEO announced that it was possible to put the initiative into action in August.