SnapBots News Review-PayPal Launches Crypto Services for UK Customers
Paypal, which entered the cryptocurrency market around October 2020, first rolled out its crypto buying option in the US, supporting Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Just recently, Paypal launched its cryptocurrency support in the United Kingdom. Verified PayPal customers will soon have access to crypto trading. For the first time, residents of the United Kingdom will be able to buy, hodl, and sell cryptocurrencies through PayPal.
The currencies supported by PayPal are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. UK customers will have access to the above cryptocurrencies through their website or mobile app.
United Kingdom Financial Conduct Authority (FCA) has been very strict in cracking down on cryptocurrency exchanges that do not meet its registration requirements. However, PayPal’s da Ponte said his company is “committed to continuing working closely with regulators in the UK and around the world” in rolling out its crypto offerings.
However, PayPal currently does not support crypto transactions for PayPal business accounts.
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