Paypal opens its platform for buying and selling cryptocurrencies in the UK

PayPal I mentioned this weekend that To launch its cryptocurrency services in the UK, which will allow their customers in the country to buy cryptocurrency and keep it in their accounts within their platform. This will be your first crypto foray outside the US.

According to the announcement, encryption services will be expanded As of this weekto me. The offer will be similar to that available in the European Union, PayPal UK citizens will be allowed Buy four cryptocurrencies from your platform: BitcoinAnd Bitcoin CashAnd raised And Litecoin.

Jose Fernandez da Ponte, General Manager of PayPal For blockchain, cryptocurrencies, and digital currencies, he expects demand to be high, noting that “the service works very well in the US. We expect it to work similarly in the UK.”

service PayPal Will continue to use Paxos As one of its main partners to offer this job.

Paxos It is a regulated cryptocurrency company headquartered in New York. According to CNBC, the company has already contacted British regulators about the service, to ensure compliance with existing laws.

The platform’s promise of international expansion came along with the idea last year, but no progress has been made yet. In July this year, Dan ShulmanThe CEO of the company announced that the initiative is feasible to implement in August.