{"id":46945,"date":"2021-07-30T10:33:26","date_gmt":"2021-07-30T07:33:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46945"},"modified":"2025-09-01T18:56:20","modified_gmt":"2025-09-01T15:56:20","slug":"paypal-to-open-access-to-cryptocurrencies-for-uk-customers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/paypal-to-open-access-to-cryptocurrencies-for-uk-customers\/","title":{"rendered":"PayPal to open access to cryptocurrencies for UK customers"},"content":{"rendered":"<p>PayPal, the payments company, will open access to cryptocurrencies for UK customers. <a href=\\\"https:\/\/www.fool.com\/earnings\/call-transcripts\/2021\/07\/29\/paypal-holdings-pypl-q2-2021-earnings-call-transcr\/\\\">Schulman said<\/a> during the company\u2019s Q2 2021 earnings call.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Yes, we&#8217;re still pleased with the momentum we&#8217;re seeing in crypto assets. We&#8217;re going to open, perhaps as early as next month, access to trading [cryptocurrencies] in the United Kingdom,&#8221; Schulman said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>According to the CEO, in the coming months PayPal <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-completes-development-of-its-own-crypto-wallet\">will launch a cryptocurrency wallet<\/a> in the United States, which will be integrated into the company&#8217;s new financial super app. The latter will be an analogue to Alipay and WeChat \u2014 it will include investment services, high-yield savings accounts and check-cashing services, as well as other tools.<\/p>\n<p>\\n\\n<\/p>\n<p>Schulman emphasised that the main objective of the company\u2019s blockchain unit is to help shape the next generation of financial systems. For this, PayPal is also exploring smart contracts and decentralized applications.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;How can we effectively use smart contracts? How can we tokenize assets and provide access to consumers who may not have dealt with them before? There are a few interesting applications in the sector <span data-descr=\\\"decentralized finance\\\" class=\\\"old_tooltip\\\">DeFi<\/span>. So we are doing a lot of work,&#8221; he said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1) We talk to a ton of finance\/tech companies. Many companies interested in understanding DeFi reach out<\/p>\n<p>2) We\\&#8217;re not partnered w\/ companies mentioned in ETHCC talk<\/p>\n<p>3) Vid deleted at our request b\/c we thought could be interpreted to suggest we have relationships that we dont <a href=\\\"https:\/\/t.co\/yP0u5KRHTV\\\">https:\/\/t.co\/yP0u5KRHTV<\/a><\/p>\n<p>\u2014 Hayden Adams \ud83e\udd84 (@haydenzadams) <a href=\\\"https:\/\/twitter.com\/haydenzadams\/status\/1420482163791835141?ref_src=twsrc%5Etfw\\\">July 28, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;We are talking to a large number of financial and tech companies. Many of those interested in understanding DeFi reach out to us. We are not partnering with the companies mentioned in the EthCC talk. The video was removed at our request because we believed it could be interpreted as an announcement of relationships we do not have,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>In November 2020 PayPal allowed its customers <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-launches-bitcoin-buying-and-selling-for-us-users\">to buy, sell and store cryptocurrencies<\/a>, and in March 2021 <a href=\"https:\/\/u1f987.com\/en\/news\/media-paypal-to-allow-paying-with-bitcoin-at-partner-merchants\">to pay for purchases with them<\/a> at partner retailers.<\/p>\n<p>\\n\\n<\/p>\n<p>In May the company said it would allow users to withdraw digital assets to external wallets.<\/p>\n<p>\\n\\n<\/p>\n<p>In July PayPal announced <a href=\"https:\/\/u1f987.com\/en\/news\/paypal-raises-cryptocurrency-purchase-limit-to-100000-per-week\">an increase in the limit for cryptocurrency purchases<\/a> for US customers from $20,000 to $100,000 per week.<\/p>\n<p>\\n\\n<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PayPal will open access to cryptocurrencies for UK customers, according to CEO Dan Schulman during the Q2 2021 earnings call.<\/p>\n","protected":false},"author":1,"featured_media":46946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,182,810],"class_list":["post-46945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-paypal","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46945"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46945\/revisions"}],"predecessor-version":[{"id":46947,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46945\/revisions\/46947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46946"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}