PayPal is extending its crypto service to the U.K., allowing customers to buy, sell and hold four different cryptocurrencies on its platform.
- The rollout is the first expansion of PayPal's crypto offering outside the U.S.
- The process will begin this week and should be available to all eligible customers within the next few weeks.
- Customers must have verified their identity in order to be eligible. PayPal business accounts will not be supported.
- The company has not yet allowed users to move crypto holdings off-platform, though this stance may change. Jose Fernandez da Ponte, vice president of blockchain, crypto and digital currencies, said at Consensus 2021 in May that a withdrawal function is in the works.
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