PayPal's Crypto Payments Are Coming to the UK This Year

The digital payments company PayPal will introduce its suite of crypto services to UK customers in a few months, according to CoinDesk.

Jonathan Auerbach, an executive at the company, shared the update during its investor day.

PayPal launched its “buy, sell, hold” crypto offering in the US late last year, which allows users to handle a variety of digital assets on-platform. Crucially, crypto purchased through PayPal can only be spent through the app, meaning funds can’t be transferred out to other wallets.

The company has been plotting to expand crypto services to non-US countries, but today marks the first concrete sign of a near-term timeline.

PayPal’s stock price has soared over the past year, bolstered in part by retail demand for its crypto products. In Q4 alone, the company netted 16 million new active accounts.

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