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PayPal to Bring Its Cryptocurrency Offering to U.K.

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Thu, 11/02/2021 - 18:50
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PayPal to Bring Its Cryptocurrency Offering to U.K.
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Payment giant PayPal is expected to bring its cryptocurrency service to the U.K. in the coming months. The plan was announced to the company's shareholders during its investor day.    

PayPal initially announced its foray into crypto back in October to much fanfare. All of its eligible U.S. customers were able to start trading and holding digital assets in mid-November when the company removed its waitlist. 

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Venmo—a payment app that was acquired by PayPal in 2014—is also slated to enable its own cryptocurrency feature in the first half of 2021. 

As reported by U.Today, PayPal's groundbreaking crypto offering is already a huge success, and the company is expected to generate over $2 billion in revenue from Bitcoin alone by 2023.        

According to Jonathan AuerbachPayPal's senior vice president of strategy and growth, his company wants to play an important role in integrating cryptocurrencies into consumer payments and commerce:     

We’re actually looking at our crypto services to help position PayPal, to help shape the role of cryptocurrencies and CBDCs in consumer payments, commerce, and financial services safely and securely.

PayPal will also allow its customers to shop with Bitcoin and other cryptocurrencies later this year.  

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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