PayPal will now allow UK users to use cryptocurrencies

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PayPal plans to support cryptocurrencies in the countries beyond the United States. The residents of the United Kingdom can also use the payments platforms to buy and sell cryptocurrencies with additional support services planned to launch. 

As per the reports by the journalist Carl Quintanilla, PayPal will expand its services UK crypto market in the next few months. PayPal will also offer crypto services to Venmo wallet users before the second quarter of this year. Additionally, PayPal will also roll-out non-crypto services across the globe as part of an international campaign to offer more choices in payment methods.

PayPal CEO on crypto

PayPal CEO, Dan Schulman stated that the organization will provide transacting and custodial features to Venmo and international markets during 2021. As per the CEO, the first market in the international rollout is not confirmed yet, but there are plans made for the market. 

Dan Schulman confirmed that the company will invest in crypto, blockchain, and digital assets in the coming months. This announcement was made after the successful launch of the platform’s initial cryptocurrency services in the US in November. The platform’s crypto services have also shown a positive response and the crypto market is also seeing tremendous growth. In the past months, Bitcoin and cryptocurrency trading hit a record of both trading value and volumes across the market. Also, in the past week, Bitcoin increased to its new highs of $48,700. 

Also Read: India to ban crypto, the investors will be given certain transition period says, Bloomberg