Paypal has announced the launch of Paypal 'Crypto' in the UK, a service that will allow users to buy, hold, and sell cryptocurrency through the platform. The new launch marks the company's first expansion of the service outside of the United States, first released in 2020.
UK-based users will now have options to hold four different cryptocurrencies -- Bitcoin, Ethereum, Bitcoin Cash, and Litecoin -- for no additional cost. In addition, the new feature will include real-time updates of crypto prices and content covering the current opportunities and risks within the crypto market.
"We’ve focused on education, building in support throughout the experience so that our customers can make informed choices about whether cryptocurrencies are the right option for them," said a spokesperson from PayPal, referencing the company's effort to make the world of crypto more accessible to its users.
Crypto-Friendly Payment Apps
Paypal's 'Crypto' Service is Set to Launch in the UK This Week
Trend Themes
1. Crypto-payment Integration - Payment apps integrating cryptocurrency capabilities presents an opportunity to disrupt traditional payment systems.
2. Cryptocurrency Education - Focusing on education and support within the platform can increase adoption and understanding of cryptocurrencies.
3. Global Crypto Adoption - Paypal's expansion of 'crypto' services outside of the US signals growing global adoption of cryptocurrencies.
Industry Implications
1. Fintech - Fintech companies could explore cryptocurrency integration in their payment systems to offer more choices to their users.
2. Education - The growing interest in cryptocurrency provides an opportunity for educators to offer courses and resources to help people understand and navigate this new asset class.
3. Investing - As cryptocurrency gains wider acceptance, traditional investment firms should start to explore opportunities to offer crypto-assets to their clients.