PayPal expands crypto support to UK

PayPal is expanding its cryptocurrency support to UK customers, the company has announced.

Following an early launch in the US, the global payment processing company is upping the reach of its crypto support and residents of the UK will soon be able to buy and sell crypto.

In addition, PayPal is working on a solution that will make crypto options accessible to Venmo wallet holders ahead of Q3, 2021.

Commenting on these developments, PayPal CEO Dan Schulman has confirmed that the company is looking to deliver crypto services globally and to Venmo, as well as to other international markets.

Details of potential roll-outs to new markets in future have been scant, as Schulman has kept a fairly cryptic stance about the company's plans. This probably reflects PayPal's own evolving decision-making process as to which jurisdictions to break into next.

Regardless, the US and the UK are definitely two of the places that the company wants to target.

Thanks to the new feature adopted by PayPal, customers can purchase crypto directly through the app for quick and swift navigation.

Another feature that PayPal plans on rolling out soon is giving consumers the opportunity to make a purchase at any of the payment processor's 29 million merchants globally. The roll out is expected before Q2 2021.

With crypto adoption going mainstream, and the price of bitcoin cracking $49,000, interest from institutional investors and private companies has intensified. The boost to cryptocurrencies in recent weeks has led to a surge of new players at bitcoin and crypto casinos.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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