PayPal users will be able to buy and sell cryptocurrencies

The US giant’s online payment platform will allow its users in the United Kingdom to buy and sell cryptocurrencies.

US online payments giant PayPal announced Monday that it will allow its users in the UK to buy, hold and sell cash for the first time. cryptomonnaies via 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 said. This new service will begin to be implemented this week and will be available both via l ‘application PayPal and the site Web. The online payments giant said it hopes this will help improve understanding of the how cryptocurrencies work.

Access to cryptocurrencies

The popularity of cryptocurrencies has exploded in recent years, despite their volatility and concerns about your environmental impact. « The pandemic has accelerated digital change and innovation in all aspects of our lives, including the digitization ofmoney and increased consumer adoption of digital financial services Said Jose Fernandez da Ponte, vice president and general manager of blockchain, cryptocurrencies and digital currencies at PayPal. He believes that 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 make a significant contribution to shaping the role digital currencies will play in the future of finance and global trade “he added.

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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Vince Fernandez

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