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PayPal to launch crypto trading in UK

Friday 30 July 2021 10:44 CET | News

Global payments platform PayPal has announced it is looking towards the UK as the next market in which to expand its crypto trading services.

According to the company’s second-quarter 2021 earnings call, PayPal has done very well out of crypto trading for the period. 

PayPal is also working on Open Banking integration, representatives stated, adding that it ‘will increase the ability to fully integrate it into ACH and do faster payments.’ ACH is PayPal’s Automated Clearing House, a payment service that enables merchants to electronically collect payments from customers by directly debiting their checking or saving accounts.

There has been strong adoption and trading of crypto on Venmo. The PayPal-owned firm Venmo launched crypto trading services to an estimated 70 million users in mid-April 2021.

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Keywords: PayPal, cryptocurrency exchange, Open Banking, trading platform
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United Kingdom
This article is part of category

Blockchain & Cryptocurrencies