Paypal has announced that it has launched its new service to buy, hold and sell cryptocurrency in United Kingdom .
The service will offer Paypal customers a new way to explore cryptocurrency in the PayPal environment they know. Customers can start by buying as little as £1 of cryptocurrency through PayPal.
To purchase cryptocurrency, eligible customers can log into their PayPal account via the website or their mobile app, navigate to the new crypto tab to view the four cryptocurrencies available and view current pricing and trends.
The financial technology company provides account holders with educational content to help them understand the cryptocurrency ecosystem, the volatility, risks, and opportunities related to purchasing cryptocurrency.
The company has been exploring the potential of digital currencies through partnerships with licensed and regulated cryptocurrency platforms and with central banks around the world.
The Vice President and General Manager, of Blockchain, Crypto and Digital Currencies at PayPal, Jose Fernandez da Ponte said:
“The pandemic has accelerated digital change and innovation across all aspects of our lives— including the digitisation of money and greater consumer adoption of digital financial services,”
“Our global reach, digital payments expertise, and knowledge of consumer and businesses, combined with rigorous security and compliance controls provides us the unique opportunity, and the responsibility, to help people in the UK to explore cryptocurrency.
“We are committed to continue working closely with regulators in the UK, and around the world, to offer our support—and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”
