PayPal is to allow users in the UK to buy, hold and sell cryptocurrency through the payment platform for the first time.
The firm said its new service would allow customers to choose from four types of cryptocurrency: Bitcoin, Ethereum, Litecoin and Bitcoin Cash and will be available both via the PayPal app and website.
A new crypto tab will be added to the PayPal platform, showing real-time currency prices as well as offering educational content to help answer common questions and learn more about cryptocurrencies, including the potential risks, PayPal said.
The payment giant said it hoped that the move to embrace the currency would help improve knowledge and understanding of it.
Cryptocurrencies remain controversial because of their lack of regulation and volatile value fluctuations, and some critics have raised concerns about the anonymity offered to users as part of transactions, arguing the currencies are being used by cybercriminals to hide their activities.
Jose Fernandez da Ponte, vice president and general manager for blockchain, crypto and digital currencies at PayPal,…
