PayPal Made Crypto Supporting Features Available to UK-based Customers

By Jenny Aurora | February 20, 2021
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Payment giant Paypal is reportedly going to make facilitating features for crypto buying, selling, and custody available to clients living in the UK, per disclosed by Paypal Head – Dan Schulman. 

Specifically, the payment heavyweight is reportedly carrying out the initiative in a bid to further its crypto presence to territories outside of the US. 

Paypal reportedly also looks to roll crypto features out for Venmo wallet holders, prior to when the 2nd quarter of 2021 concludes. 

Additional projects to be conducted by Paypal reportedly include global expansion for Venmo with a deadline being 2026, together with a broader release of the app’s credit cards.

PayPal CEO Dan Schulman reportedly remarked that the firm would make crypto buying, selling, and custody updates available to “Venmo and select international markets” in 2021 during last week’s Q4 earnings call. Nonetheless, the particular market to receive the release first is yet to be decided. 

Schulman additionally shared that the company is spending extensive efforts in making investments in its crypto, blockchain, and digital currencies division, following the release of crypto services “exceeded expectations.”

U.S. users have reportedly been having the power to buy crypto straight through the PayPal app starting November last year, when the firm moved forward significantly regarding its adoption of crypto assets.

Since that time, crypto trading volume across the platform has hit its all-time high, peaking at $242 million in transactions on Jan. 11.

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