Amazing Surge in BTC’s Price! PayPal to Launch Crypto Services in U.K.?

8:14 am, Mon, 23 August 21

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To the delight of BTC investors and traders, the flagship crypto asset has finally crossed the $50,000 region. The digital currency has reclaimed this level for the first time since the mid of May. According to reports, Bitcoin’s market cap is about to touch the $1 trillion level, which is fantastic news for all crypto enthusiasts.

It has been noted that Bitcoin’s price volatility also affects the overall crypto market. Since it is in the green at the moment, so are several other cryptocurrencies. Bitcoin is currently trading slightly above $50k at $50,082 (at the time of writing).

However, this is not the only good news for BTC enthusiasts. PayPal, the global payments behemoth, has announced plans to offer crypto services to its customers in the United Kingdom. Based on the services planned by PayPal, the customers will be able to purchase, hold and trade not only BTC but several other digital assets.

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What to Know About PayPal’s Services?

PayPal is one of the most well-known names in the world. The company is a global payments giant and is continuing to progress in the world of cryptocurrency.

The company started offering crypto services to its customers in the USA in October and then gradually expanded. It is now ready to offer the same services to its customers in the U.K. as well.

Jose Fernandez da Ponte from PayPal stated:

We are committed to continue working closely with regulators in the UK, and around the world, to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”

According to reports, PayPal has planned to launch its services in the U.K. later this week. The customers of the company will be able to buy and hold:

The crypto services will be available on the website as well as the app. Jose further stated that the prominence of digital assets has increased substantially because of the COVID-19 pandemic. People have become more prone to making online payments using digital assets.

He stated:

The pandemic has accelerated digital change and innovation across all aspects of our lives, including the digitization of money and greater consumer adoption of digital financial services.”

The price of Bitcoin has also reclaimed a very important price region at $50,000, which is highly likely to work in favor of PayPal’s crypto services. The company currently plans to offer a limited number of cryptocurrencies as mentioned above. However, keeping in view the success of the crypto market, the company will expand its services to other markets too.

What to Know About Current Crypto Market Situation?

At the moment, the crypto market is doing quite well, as compared to the situation a couple of weeks ago.

Bitcoin has been soaring high and is expected to cross the $60,000 price region soon.

However, it is not the only digital currency to experience a price surge. Other digital assets such as Ethereum and Cardano have also seen quite a price increase.

  • Ethereum is currently trading at $3,320 (at the time of writing)
  • Cardano is currently trading at $2.79 (at the time of writing)

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