Global payments firm PayPal Holdings Inc. has rolled out its cryptocurrency trading services in the United Kingdom starting this week, the company announced in a statement.
The service allows users to access four types of cryptocurrencies — Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Access is granted through the official website or the mobile application.
Customers can select either pre-determined purchase amounts, or enter their desired amount which could be as little as £1. Accounts can be funded through their debit or credit cards.
Users who sell will get quick access to proceeds in their PayPal account, with applicable transaction and conversion fees. There are no fees to hold cryptocurrency.
The service is offered through PayPal (Europe) S.à r.l. et Cie, S.C.A. It is not regulated by the UK Financial Conduct Authority nor the Luxembourg Commission de Surveillance Du Secteur Financier.
The offering marks PayPal’s first international expansion of cryptocurrency services outside the United States.