Payment platform PayPal to allow UK users to trade and learn about cryptos
by: Dynasty GI2021-08-23
Global payment platform PayPal will allow users in the United Kingdom to buy, sell and hold cryptocurrencies for the first time.
According to PayPal, customers will be able to use four types of cryptos – Bitcoin, Ethereum, Litecoin and Bitcoin Cash – from its app and website in the country.
PayPal’s vice-president for Blockchain, crypto and digital currencies, Jose Fernandez da Ponte, said the move is also designed to help introduce more people to Blockchain technology and cryptos. “Our global reach, digital payments expertise, and knowledge of consumer and business, combined with rigorous security and compliance controls provides us the unique opportunity, and the responsibility, to help people in the UK to explore cryptocurrency”, da Ponte said.
"“PayPal’s global reach can help demystify cryptocurrencies to a wider segment of the population around the world and that is positive for the growth of Blockchain technology-based financial products like our cryptocurrency, the D¥NS”, stated Eduardo Carvalho, the co-founder and CEO of Dynasty Global Investments AG."
Through a crypto tab, customers will be able to see real-time currency prices together with educational information on cryptos. However, it is not clear whether PayPal will also include the facility for users to make purchases in cryptos at participating businesses, which is included in a similar service already rolled out in the United States.