The largest debit electronic payment system PayPal allowed its US customers to buy and exchange crypto assets using its service last year. This innovation was beneficial for the company, as customer loyalty increased and more individuals started using the service.
PayPal has decided to launch the same service in the UK. For this purpose, it has partnered with Paxos, a blockchain company that digitizes and mobilizes assets.
From today, PayPal’s UK customers can buy, store, and sell cryptocurrencies.
“We look forward to success in the UK as well,” Jose Fernandez da Ponte, who is responsible for cryptocurrency services at PayPal, commented in an interview with CNBC.
Users can use the service both through the website and through the mobile application. So far, only 4 cryptocurrencies are available: Bitcoin, Ethereum, Bitcoin Cash and Litecoin. You can buy or sell cryptocurrency starting from 1 British pound sterling. In addition, users can track the exchange rate of digital currencies in the application itself. For beginners, access to educational content was opened.
The only downside is that crypto assets cannot be transferred to other wallets and applications.