Alipay official Announce On Friday, all eligible customers in the UK can now use their PayPal accounts to buy, hold and sell cryptocurrencies.
Customers can trade four main cryptocurrencies: Bitcoin (Bitcoin), ether (Ethereum), Litecoin (LTC) And Bitcoin Cash (Bitcoin cash).As previously announced, cryptocurrency transactions only apply to PayPal customers with verified identities.
PayPal announces plans to enter the UK cryptocurrency market immediately in late August conduct Part of the introduction of encrypted transaction services.This move marks the first expansion of PayPal’s cryptocurrency service Beyond the United States.
In an interview with Cointelegraph, a PayPal spokesperson said: “PayPal is gradually introducing new encryption services to its UK customers. This process is complete,” added:
“Before we start rolling out more features and functions, we are keen to learn and observe how our customers use our products to buy, hold and sell cryptocurrency.”
When PayPal entered the local crypto market, some British banks were cutting off the exchange’s payment channels. In August, the banking giant HSBC said Suspension of credit card payments to Binance, The reason is that its customers “worries about possible risks.”Other banks such as Barclays Bank and NatWest Bank Previously blocked transactions to Binance.
Gregory Klumov, CEO of tokenization company Stasis, said that PayPal’s cryptocurrency launch in the UK is a “breath of fresh air.” “Since the country is in the world’s top 10 economies, such a milestone will clearly promote the continued adoption of digital assets in Europe and other regions,” he said.