Finance Monthly September 2021 Edition

8 www.finance-monthly.com NEWS - MONTHLY ROUND-UP THE MONTHLY ROUND-UP News You Can’ t Af ford to Mi ss PayPal Launches UK Cryptocurrency Service Online payments gi- ant PayPal has an- nounced plans to launch its cryptocur- rency service in the UK, allowing British consumers to buy, hold, and sell digital currencies. PayPal Holdings headquarters build- ing in North San Jose Innovation District in Silicon Valley 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, custom- ers 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 regu- lators to launch its crypto service. Despite ongoing concerns regarding crypto’s volatility, consumer protection and the potential for money laundering issues, many major companies includ- ing Tesla, Master- card, and Facebook have been opening up to crypto in re- cent 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 recently, reaching a more than 3-month high.