PayPal Launches Cryptocurrency Services in the UK This Week

U.S. online payments giant PayPal (NASDAQ:PYPL) announced that it will allow U.K. customers to buy, hold and sell digital currency starting this week, marking the first international expansion of PayPal's crypto offering. The product previously debuted in the U.S. in October last year.

PayPal's cryptocurrency service will allow customers to purchase a minimum of £1 in bitcoin, bitcoin cash, ethereum or litecoin. Customers will also be able to track cryptocurrency prices in real time and search for relevant content on the platform.

In a media interview, Jose Fernandez da Ponte, PayPal's general manager of blockchain, crypto and digital currency, said, "Crypto products are doing very well in the U.S., and we expect them to do equally well in the U.K."