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PayPal to Expand Crypto Products to UK Residents


PayPal to Expand Crypto Products to UK Residents
Feb 12 2021 · 09:20 UTC | Updated
Feb 12 2021 · 10:22
by Ibukun Ogundare · 3 min read
Photo: PayPal
CEO Dan Schulman noted that the volume of crypto transactions on PayPal exceeded expectations.
Global online payments company PayPal Holding Inc (NASDAQ: PYPL) has announced that it would be extending its crypto products to the UK. Upon a successful expansion, the UK would be the first market outside the US to enjoy PayPal’s crypto products.
PayPal announced its debut into the crypto market in October last year. At the time of the announcement, the company said that all its eligible account holders in the US could buy, hold, or sell cryptocurrency. PayPal also added that the crypto service would initially support Bitcoin (BTC) and three other digital assets. The other cryptocurrencies backed by the PayPal crypto service are Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC). ....

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PayPal Reportedly Launches Business Unit Specifically Dedicated to Cryptocurrency


PayPal Reportedly Launches Business Unit Specifically Dedicated to Cryptocurrency
 
PayPal Holdings, Inc. (NASDAQ: PYPL) is reportedly launching a new business unit that is specifically dedicated to cryptocurrency services. According to
Bitcoin.com, PayPal CEO, Daniel Schulman, stated during an earnings phone call that the existing financial system is considered outdated and that PayPal will be investing more funds into blockchain and digital currencies. He also revealed:
“We all know the current financial system is antiquated, and we can envision a future where transactions are completed in seconds, not days; a future where transactions should be less expensive to complete; and a future that enables all people to be part of the digital economy, not just the affluent. We are significantly investing in our new crypto, blockchain, and digital currencies business unit in order to help shape this more inclusive future.” ....

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PayPal To Pull Out Of Local Payment Services In India On April 1


TechShout
Global digital payment platform PayPal on Friday decided to wind down its domestic payment services in India from April 1.
From April 1, the company will focus all its attention on enabling more international sales for Indian businesses, and shift focus away from its domestic products in India.
“This means we will no longer offer domestic payment services within India from April 1,” a PayPal spokesperson told IANS.
The company has three centers in Bengaluru, Chennai and Hyderabad which are touted as the largest outside the US.
The company also has its business development teams in India.
PayPal said that it will continue to invest in product development that “enables Indian businesses to reach nearly 350 million PayPal consumers worldwide, increase their sales internationally, and help the Indian economy return to growth”. ....

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