PayPal launches crypto buying, selling in UK

By Aysu Bicer

ANKARA (AA) - Online payment company PayPal on Monday announced that its customers in the UK would be able to buy, hold and sell cryptocurrency through the company’s website and mobile app.

"This new service starts rolling out this week," according to a statement by the company.

PayPal hoped this will encourage people to research and learn about the opportunities and risks in cryptocurrency before transacting.

"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," Jose Fernandez da Ponte, vice president and general manager for blockchain, crypto and digital currencies at PayPal, said in a statement.

Customers can opt for from four kinds of cryptocurrencies namely Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

In March, the company announced Checkout with Crypto — enabling customers in the US to employ their cryptocurrency alongside other payment methods in their PayPal wallet to make purchases at businesses around the world.

In April, it introduced crypto services on its mobile payment service Venmo in the US.