Users of the PayPal payment platform in the UK will be able to transact with cryptocurrencies. Initially, the accepted currencies will be bitcoin, ethereum, litecoin, and bitcoin cash.
The announcement, made on August 23, helped boost the price of cryptocurrencies. On the same date, bitcoin surpassed the US$ 50,000 mark after three months with lower values. Similarly, Ethereum also appreciated, quoted above US$ 3,000.
“We wish to make a significant contribution to shape the role that digital currencies will play in the future of global finance and trade”, said the company’s vice president and manager of blockchain, crypto and digital currencies, Jose Fernandez da Ponte, according to Estadão Conteúdo.
The same measure has been in effect in the United States since March this year. At the time, a statement from the company said it believed “that this is a turning point where cryptocurrencies move from a predominant asset class that you buy, store or sell to now become a legitimate source of financing for real-world transactions in millions of businesses”.
Moreover, in October last year, PayPal had already announced that it would make this type of transaction available to its 29 million traders, with the collaboration of Paxus.