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PayPal customers in the UK will be able to use cryptocurrencies

PayPal customers in the UK will be able to use cryptocurrencies

The American online payments giant PayPal announced on Monday, August 23, that it will allow its users in the United Kingdom for the first time to buy, hold and sell cryptocurrencies on the payment platform. Your customers will be able to choose between four types of cryptocurrencies: bitcoin, ether, litecoin and bitcoin cash.

A new tab will be added to the PayPal platform, displaying currency prices in real time and including information about cryptocurrencies, including potential risks, PayPal explained.

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This new service will begin to roll out this week and will be available both in the PayPal application and on the website. The online payments giant said it hopes this will help improve understanding of how cryptocurrencies work.

The popularity of cryptocurrencies has exploded in recent years, despite their volatility and concerns about its environmental impact.

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There is a similar service in the United States

“The pandemic has accelerated digital change and innovation in all aspects of our lives, including the digitization of money and increased consumer adoption of digital financial services.”said José Fernandez da Ponte, vice president and general manager of blockchain, cryptocurrencies and digital currencies at PayPal. He believes PayPal has “The unique opportunity and responsibility to help people in the UK explore cryptocurrencies”.

“We are committed to continuing to work closely with regulators in the UK and around the world, to offer our support and contribute significantly to shaping the role that digital currencies will play in the future of finance and the world. Commerce world”he added.

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In the US, PayPal has launched a similar service, which also allows users to make purchases at participating companies using cryptocurrencies, a feature that has yet to be confirmed for launch in the UK.

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The world with AFP