PayPal allows British customers to buy, sell and store four crypto assets

Global payments giant PayPal has launched a cryptocurrency offering for British customers for the first time.

UK PayPal users, including the US, can now buy, sell and store bitcoins (BTC), Ethereum (ETH), bitcoin cash (BCH) and lightcoins (LTC) through the company’s website and mobile app.

The move is PayPal’s first international offer in cryptocurrencies outside the US. Marching October first saw the opportunity to buy cryptocurrencies, then in March payment options were available and in April access to Venmo’s mobile payment service was granted.

Jose Fernandez da Ponte, PayPal’s vice president and General Manager for blockchain, cryptocurrency and digital currencies, explains the company’s broader strategy and intentions.

“Our global reach, digital payments expertise and stringent security controls, and compliance coupled with the information we have about consumers and businesses, people in the UK gives us a unique opportunity and responsibility to help you learn crypto currency.

We are committed to continuing to work closely with regulators in the UK and around the world to provide our support and contribute significantly to shaping the role of digital currencies in the future of global finance and trade.”

According to the announcement, PayPal wants to create more understanding and access to crypto while “promoting the next generation of financial services infrastructure.”

“As part of this offer, PayPal provides educational content to account holders to help them understand the cryptocurrency ecosystem, volatility, risks and opportunities associated with cryptocurrency buying. The company is urging its customers to research the risks and opportunities for various cryptocurrencies before buying, storing and selling them.”

PayPal previously reported the plan by Telegraph earlier this year.

Don’t miss a hit-subscribe to crypto email alerts sent directly to your inbox

Follow us on Twitter, Facebook and the wire.

Join the Discussion

  • BrokerEUR/USD
    City Index 0.5pips (fixed) margin: 3.33%
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top