PayPal to Expand into the UK with Launch of Crypto Service

Fazzaco learned that PayPal, the US payments giant, has rolled out crypto service in the U.K. Users in the country can now buy, sell and hold Bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH) through their PayPal wallets online or on the mobile app.

The newly launched service marks the first international expansion of PayPal's crypto services outside of the United States.

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PayPal users can start investing in crypto with as little as £1 or $1, but there are caps on the maximum investment amount. Users in the country won't be able to purchase crypto worth more than £15,000 per week. The maximum amount for purchases over a 12-month period is £35,000.

​As Fazzaco reported earlier, the weekly cryptocurrency purchase limits in the US for eligible customers has increased to $100,000. Notably, there will be no annual purchase limit on cryptocurrencies.