PayPal to Expand its Crypto Offering to the UK this Year

Yes, you read it right, the online payments system company PayPal is expanding its crypto products to the UK this year. An executive at the company, Jonathan Auerbach, shared the update during its investor day as reported by CoinDesk.

He said, “We plan to expand our crypto offering geographically to the UK in a number of months,”

Also, “We’re actually looking at our crypto services to help position PayPal, to help shape the role of cryptocurrencies and [central bank digital currencies] in consumer payments, commerce and financial services safely and securely,”

FYI PayPal launched its crypto services to the US last year. After the launch PayPal allows its US users to buy, sell and hold cryptocurrencies via its web and application.

PayPal in its Q4 2020 earnings call it reported an 11.8% increase in transaction revenue quarter over quarter.