Another giant in cryptocurrencies: Paypal now allows trading

Another giant in cryptocurrencies: Paypal now allows trading

Cryptocurrencies have been in the mouths of the world, not only because a few months ago they broke records of values again, but namely because we have seen them being accepted by large companies as means of payment, although, for example, Tesla has retracted in relation to Bitcoin, but with promises of a return.

Now, it's Paypal's turn, which despite already allowing some forays into the world of cryptocurrencies, now takes an important step in this market, allowing it to be possible to buy and sell cryptocurrencies, for now still limited to the UK and US.

PayPal Holdings has expanded its cryptocurrency services outside the US, allowing customers in the UK to buy, sell and store Bitcoin, Ethereum, Litecoin and Bitcoin Cash starting today, October 23, according to an official statement.

The UK launch of the online payment service provider's crypto services marks its first international expansion, which it hopes will lead to greater global use of virtual currencies and other digital currencies that can be developed by businesses and central banks.

PayPal in March began offering cryptocurrency buying and selling in the U.S., allowing customers to use digital currencies to make purchases through its payment system.

"We are committed to continuing to work closely with regulators in the UK and around the world to offer our support and contribute significantly to shaping the role digital currencies will play in the future of global finance," Jose Fernandez da Ponte, vice president of blockchain at PayPal.

The simple fact that Paypal expands its bet in the world of cryptocurrencies is a very good sign for those who use, more and more, digital currencies. This step taken by the company, shows that Paypal intends to increase its business in this area and certainly in the near future we will see new markets where Paypal will allow the trading of cryptomoeadas.