Crypto adoption has been a slow process but even so, the authorities, regulators, and even the payment processors have been slowly rolling out various updates to bring their users up to speed with the crypto community. PayPal happens to be among these payment processors; at first, PayPal launched its services featuring the crypto industry to the US customers, but when the transition went well, and customers really liked this new change of a crypto wallet addition within their PayPal wallet, it decided to make it global.
Starting out in the US, PayPal is now presenting the UK customers with the same set of services that were available in the United States, people are now able to use their PayPal wallets to store cryptocurrency as well, not only they can store it, but they can sell it and exchange it with some other crypto of their liking, all of which took place in real-time. The customers need to be eligible to be able to deal with the crypto wallet provided by PayPal; this eligibility factor comes in the form of filling out their KYC and acknowledging the AML policy of the payment processor.
PayPal Will Launch Its Crypto Services In All Europe
Any customer that is done with these two steps is eligible to trade in multiple cryptocurrencies such as Bitcoin, Bitcoin Cash, Ether, and Litecoin. This new venture of PayPal, which is becoming more and more famous among its users, actually started out as an experiment but the conversion rates were over the roof, everyone wanted access to cryptocurrency, and what better way to do so than using their own PayPal wallets.
At present, the service is only active in the United States and the UK, but soon enough, PayPal is willing to roll out this service in all of Europe. This definitely paves the path to a more robust and acknowledging future for the crypto market and revolutionizing our financial system for good. PayPal also has plans to reach out with the same offering to Ireland soon, and from there, Europe would be the next mark for the payment processor.