Investing.com – Paypal (NASDAQ 🙂 has been offering its customers in the US the ability to buy, and since last November. Business is going well in this new area of activity and it was only a matter of time before expansion.
On Sunday, the official announcement came that British customers will soon be able to enjoy the Paypal crypto services.
PayPal’s head of crypto, Jose Fernandez, said:
“Our global reach, extensive knowledge in the field of digital payment flows and strict security measures give us the opportunity to bring the British market closer to cryptocurrencies.”
PayPal has its goal clearly in mind, but there are also some hurdles to overcome. The British regulatory authority Financial Conduct Authority (FCA) had banned the cryptocurrency exchange Binance from offering crypto services to the British only a few months ago. The reason for this rigorous approach was that Binance was not properly complying with the FCA.
On June 26, 2021, the FCA issued a warning to this effect:
“Due to the requirements imposed by the FCA, Binance Markets Limited is currently not permitted to engage in regulated activities.
The Binance Group appears to be offering a range of products and services to UK customers through its website, Binance.com.
Be careful with ads on the internet and social media … “
The advance of PayPal is an important step for the spread of cryptocurrencies per se. In this way, many who previously had no point of reference to crypto currencies can gain their first experience in a familiar environment.
The purchase of Bitcoin and Co. is already possible from 1 pound and thus the inhibition threshold for a first test is almost zero.
From Marco Oehrl
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