PayPal to deploy crypto trading platform in UK

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PayPal Holdings Inc. will start giving its UK users the ability to buy and sell cryptocurrencies on its platform, marking the expansion of a feature that the company says has proven popular in the states. -United.

PayPals PYPL, + 0.99% UK users will have the ability to buy, hold and sell bitcoin BTCUSD, + 2.55%, ethereum ETHUSD, + 5.50%, litecoin LTCUSD, + 3.79%, and Bitcoin Cash BCHUSD, + 2.68%, the company announced Monday night, with the new feature starting to roll out this week.

The company launched this crypto feature for US users last fall, and the UK rollout marks its first expansion of the feature internationally. PayPal said in a statement that the launch of the feature made access, knowledge and exploration of cryptocurrency likely to become widespread in the UK.

We are committed to continuing to work closely with regulators in the UK and globally, to offer our support and significantly contribute to shaping the role that digital currencies will play in the future of finance and commerce. global, said Jose Fernandez da Ponte, vice president of PayPal. for blockchain, crypto and digital currencies, in the version.

PayPal CEO Dan Schulman said in late July during PayPal’s latest earnings call that the company was really happy with the momentum seen in crypto and that PayPal had increased its weekly crypto buying limits for them. users at $ 100,000. The previous weekly limit was $ 20,000.

The company has also rolled out crypto features to its Venmo mobile wallet and has seen strong adoption and commerce there, Schulman said during the earnings call.

PayPal shares are up 1% in Monday morning trading. They have gained 9.9% in the past three months while the S&P 500 SPX, + 0.95% has risen 7.8%.

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