Global payment services giant PayPal has confirmed the launch of its full suite of crypto trading services for UK customers. PayPal has been offering crypto-related services in other jurisdictions but it has now extended support for UK customers as well.
On Friday, the payment processor confirmed that its UK customers will now be able to trade cryptocurrencies and even store them using their PayPal accounts. Currently, PayPal’s UK customers will be able to trade in these four major coins: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). PayPal has also announced that it will allow crypto trading only for customers who hold a verified account.
Earlier, PayPal had already started offering crypto trading services to its verified customers in the US. It had announced plans to launch similar services for its UK clients in August.
In a statement to Cointelegraph, a company spokesperson said, “PayPal gradually rolled out its new crypto service to its UK customers. That process is complete.“
“We are keen to learn and observe how our customers use our buy, hold and sell crypto offering before we start to roll out more features and functionality,“ he added.
Conventional payment services providers and institutional banking giants from across the globe are developing and sending crypto solutions to their clients. Data aggregator firms report there has been an unprecedented surge in millennials looking for crypto trading services. Top firms don’t want to be left out. PayPal’s move to enter the UK market with its crypto trading services is indeed a welcome move.