Customers in the United Kingdom can now use the cryptocurrency services of PayPal. As per the PayPal platform, UK customers can purchase Bitcoin (BTC), ether (ETH), Litecoin (LTC), or Bitcoin cash (BCH) for as low as £1.
The step is the first global growth of its cryptocurrency services. Paypal will remain to utilize regulated crypto company Paxos for its services in the United Kingdom.
The service does not support PayPal business accounts. Clients are also required to verify their ID in order to become qualified for the service.
Head of PayPal’s crypto and blockchain division, Jose Fernandez da Ponte said,
“We are committed to continue working closely with regulators in the U.K. and around the world to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance”.