PayPal has launched cryptocurrency trading on its platform in the United Kingdom. This is the first expansion of crypto trading on PayPal outside the US, where the service was launched in November 2020.
Crypto trading will only be available to customers with verified accounts. Users will also get real-time prices and educational contents related to cryptocurrency on the platform. The company announced that all eligible PayPal customers in the UK can now buy, hold, and sell cryptocurrencies including Bitcoin, Ethereum, BitcoinCash, and Litecoin.
PayPal says it has over 375 million daily active users and 30 million merchants on the platform. While the company does not charge any fee for holding cryptocurrency, it is charging users for transactions and currency conversions.