PayPal officially announced on Friday that all eligible customers in the United Kingdom can now buy, hold and sell cryptocurrencies using their PayPal accounts. Customers can trade four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As announced previously, crypto trading will only be available to PayPal customers with verified identities. PayPal announced plans to move into the British cryptocurrency market in late August, immediately proceeding with a partial rollout of crypto trading services. The move marks the first expansion of PayPal’s cryptocurrency services beyond the United States. Speaking to Cointelegraph, a PayPal spokesperson said, “PayPal …
Online payments giant PayPal will start to accept cryptocurrency as a medium of exchange at its millions of global merchants, the firm’s president and CEO revealed on Tuesday ahead of a formal announcement. News broke regarding PayPal’s rumored decision to accept cryptocurrencies early on March 30. Later in the day, the firm’s CEO, Dan Schulman, confirmed to Reuters that the rumors were true and that an official statement would be released imminently. The new system is expected to feature a crypto checkout service where users can pay for goods and services at approved vendors using their stored coins. The system …
Austria-based cryptocurrency firm Bitpanda has closed a $170 million funding round to further the firm's international growth. The latest Series B funding round was led by Valar Ventures — a venture capital firm backed by PayPal co-founder Peter Thiel — Bitpanda announced on Tuesday, and featured partners from Yuri Milner’s investment firm DST Global, which is known as a major investor in United States-based crypto-friendly stock trading app Robinhood. While DST is a new investor in Bitpanda, Valar previously led a $52 million Series A round in September 2020. According to Bitpanda, the new funding round has made the firm …
The demand for cryptocurrency exceeded PayPal’s initial expectations after the firm launched crypto trading in late 2020, according to the company’s CEO. “Demand on the crypto side has been multiple-fold to what we initially expected. There’s a lot of excitement,” PayPal president and CEO Dan Schulman said in a Sunday interview with Time magazine. Schulman said that existing financial infrastructure needs modernization because it’s “inefficient today” due to overly expensive, slow international transactions. The CEO predicted that the financial system is poised to see more changes in the next five to 10 years than it has experienced over the past …
American cinema giant AMC Theatres is finally adopting cryptocurrencies like Bitcoin (BTC) for online payments following months of teasing the new payment option. AMC CEO Adam Aron announced Thursday that the company now proudly accepts four major cryptocurrencies including Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) for online payments. The new payment method already accounts for 14% of AMC’s total online transactions, Aron said, adding that cryptocurrencies join traditional payment options like Apple Pay, Google Pay and PayPal, the CEO wrote. Dogecoin (DOGE), a popular meme cryptocurrency that skyrocketed 9,000% over the past year, will be the next …