08 Dec 2022
PayPal Crypto Services Go Live in Luxembourg, Start of EU Push
PayPal, a global leader in online payments, has announced plans to launch cryptocurrency services in Luxembourg, which appears to be part of a larger effort to expand crypto services across Europe.
Coins like Bitcoin and Ethereum can now be bought, sold, and held by PayPal customers in Luxembourg.
PayPal's Cryptocurrency Services Are Now Live in Luxembourg
PayPal said in a press release on December 7 that its cryptocurrency services would soon be available in Luxembourg. Customers in Luxembourg now have access to a reliable and secure environment in which they can investigate the cryptocurrency market.
“Adding Luxembourg is an important step in PayPal’s mission to make digital currencies more accessible,”
PayPal's SVP and GM for blockchain, crypto, and digital currencies, Jose Fernandez da Ponte, made that statement.
The firm is dedicated to collaborating with Luxembourg's governing bodies and policymakers to shape the future of digital currencies in international trade and finance.
To help its customers better understand the benefits and dangers of cryptocurrency, the company will also make available educational content and frequently asked questions.
Customers in the EU can use their PayPal balance, linked bank accounts, or EU-issued debit cards to buy, sell, and hold Bitcoin, Ethereum, Litecoin, and Bitcoin Cash from as little as €1.
In 2020, PayPal began offering cryptocurrency support in the United States, and in 2021, it expanded into the United Kingdom.
Having Luxembourg as PayPal's EU headquarters will allow the company to easily expand crypto services to the other 26 EU countries once the Markets in Crypto Assets (MiCA) regulation is implemented in 2023.
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