SAN JOSE, Calif.—PayPal has officially opened its cryptocurrency offerings in the United Kingdom, enabling U.K. customers to purchase, store, and exchange Bitcoin, Ether, Bitcoin Cash, and Litecoin. Users will be able to buy cryptocurrency for under £1 via the platform.
“We’re excited to announce that all qualified clients in the United Kingdom may now purchase, hold, and sell cryptocurrencies…,” PayPal said in a statement.
The debut arrives just under a month after the payment processing company revealed the intention in August, making this the company’s maiden foreign foray into Bitcoin solutions. The move is also a portion of the PayPal’s strategy to broaden its cryptocurrency services, which includes the introduction of a “super app” digital wallet, open-banking interconnectivity, and third-party wallet transactions, CoinTrust explained.
“We remain extremely happy with the progress we’re witnessing on cryptocurrency, and we’re certainly adding additional capabilities to that,” stated PayPal CEO Dan Schulman.