US-based payment giant, PayPal, has announced that it is extending its cryptocurrency payment services to the United Kingdom (UK) by the end of this week.
This implies that PayPal’s British users will soon be able to purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Jose Fernandez da Ponte, Vice President, General Manager Blockchain, Crypto and Digital Currencies at PayPal, stressed in a statement that the payment giant is committed to ensuring regulatory compliance.
Jose Fernandez da Ponte noted:
“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.”
Back in October 2020, PayPal officially launched its cryptocurrency payment services for United States customers, before expanding its reach gradually afterward.
The move back then was attributed as one of the major reasons why Bitcoin (BTC) and other cryptocurrencies went on a meteoric price surge, which saw most digital currencies reaching their price all-time highs.
The payment giant further stated that it hoped that the move to embrace cryptocurrency would help improve knowledge and understanding of it.
Jose Fernandez da Ponte said:
“The pandemic has accelerated digital change and innovation across all aspects of our lives, including the digitisation of money and greater consumer adoption of digital financial services.
“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.
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