- PayPal is planning to expand its crypto facility in the United Kingdom after the United States
- The payments giant is steadily expanding its crypto-related services
- PayPal is significantly investing in its crypto and blockchain arm since it launched its crypto facilities
- Since the crypto transacting option is added to the platform of PayPal the crypto trading volume is observed soaring tremendously
PayPal crypto payments and trade facilities are one of the primary reasons behind the recent bullish run of the crypto market. In mid last year, the payment giant was planning to facilitate crypto payments to its customers worldwide. After launching the option of crypto facilities, the payments firm had only allowed United States users to enjoy such facilities. However, the payment giant is now planning to expand its crypto facility offerings to the United Kingdom’s customers.
PayPal crypto services are now expanding steadily
PayPal is planning to step out of the United States and offer the crypto facility to its United Kingdom users. United Kingdom users of the payments giant will be the first individuals to use its crypto trading services in the coming months. On the other hand, it is also known that the firm is planning to make cryptocurrency services available for Venmo wallet holders before this year’s second quarter. Additionally, some other non-crypto facilities include expanding Venmo internationally within the coming three to five years. The firm also has plans for a broader launch of PayPal’s application’s credit cards.
The payments giant is investing in its crypto arm
According to Dan Schulman, the chief executive officer of PayPal, the firm would add crypto trading and custody features to Venmo and select international markets this year. Indeed, yet it is a mystery in which the market would be the first to launch the feature. Additionally, Schulman also revealed that the payments giant is significantly investing in its cryptocurrency and blockchain arm since November. Since then, the users of PayPal in the United States can purchase crypto directly via the app.
Cryptocurrency trading volume is soaring on PayPal’s platform
Since PayPal has launched its crypto services in the United States, its platform’s crypto trading volume is observed soaring. Earlier last month, PayPal’s platform’s trading volume achieved new all-time high record highs after surging towards $242 million in transactions.
It is known that the customers using PayPal’s platform will be able to use crypto to shop at any of the twenty-nine million merchants in its network in the near future. According to Schulman, currently, the payments giant is actively working with regulatory bodies and central banks. Altogether the firm is willing to shape the future of a post-physical cash world.
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