PayPal launches crypto trading ability in the UK

American online payments company PayPal today announced that it’s rolling out the ability to buy, sell and hold cryptocurrencies in the United Kingdom starting this week. 

The company first launched the ability in the United States in March this year and the announcement marks the first international expansion of the service beyond the US. 

Starting this week, users in the United Kingdom will now be able to buy, sell and hold four types of cryptocurrencies, which are Bitcoin, Ethereum, Litecoin and Bitcoin Cash, via PayPal’s mobile app and its website.  

“Our global reach, digital payments expertise, and knowledge of consumer and businesses, combined with rigorous security and compliance controls provides us the unique opportunity, and the responsibility, to help people in the UK to explore cryptocurrency.’’ said Jose Fernandez da Ponte, Vice President and General Manager, Blockchain, Crypto and Digital Currencies at PayPal. 

‘’We are committed to continue working closely with regulators in the UK, and around the world, to offer our support—and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”

In April, PayPal also added crypto-trading ability to the Venmo app to allow users to buy cryptocurrencies with as little as $1.