Personal Finance. Money. Investing.

PayPal Launches UK Cryptocurrency Service

Online payments giant PayPal has announced plans to launch its cryptocurrency service in the UK, allowing British consumers to buy, hold, and sell digital currencies from this week.

Posted: 23rd August 2021 by Finance Monthly
Share this article

The move marks the first international of PayPal’s crypto product, which was first launched last October in the US. Its crypto feature allows customers to buy or sell bitcoin, bitcoin cash, ethereum, or litecoin with just £1. Additionally, customers are also able to track real-time crypto prices and access educational content on the market. 

The extension of the service to the UK will rely on the New York regulated digital currency company Paxos and PayPal has confirmed that it has engaged with all relevant British regulators to launch its crypto service. 

Despite ongoing concerns regarding crypto’s volatility, consumer protection and the potential for money laundering issues, many major companies including Tesla, Mastercard, and Facebook have been opening up to crypto in recent months. PayPal is one of the many large finance firms choosing to embrace the unregulated world of crypto. The move by the online payments giants comes as Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high. 

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram