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Monday, October 18, 2021

Paypal to launch cryptocurrency operations service in UK

This week, the American payment system PayPal Holdings Inc. will launch a service for buying, selling and storing cryptocurrencies in the UK, the company said.

As noted by PayPal, British users of the system will be able to track the dynamics of four cryptocurrencies through a website or mobile application – Bitcoin, Ether, Litecoin and Bitcoin Cash.

In addition, they will have access to the section on cryptocurrencies, where they can get answers to frequently asked questions and learn more about the risks and opportunities associated with investing in these assets.

This launch will be the first step towards the internationalization of the cryptocurrency trading platform, the press release said.

In the US, the company’s customers since spring can use cryptocurrencies from PayPal mobile wallets to pay for goods from merchants who work with the payment system.

“We intend to continue to work closely with regulators in the UK and elsewhere to enhance the future role of digital currencies in the international trade and financial sector,” said José Fernández de Ponte, vice president of cryptocurrencies and blockchain.

PayPal rose 1.5% yesterday in New York. Since the beginning of this year, the company’s market capitalization has increased by 18.3% to $ 320.7 billion.

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