PayPal Says Bitcoin Buying in UK Launching Soon

PayPal president and CEO Dan Schulman has issued new details about the payment giant’s Bitcoin and cryptocurrency services expansion.

As part of the company’s Q2 earnings call Wednesday, Schulman hinted at the possibility buy and sell functionality would be available in the U.K. as soon as next month, a development that would find it following through on promises issued as far back as February.

Although the call contained no mention of Bitcoin directly, Schulman said the company is adding functionality to its Venmo crypto services, which if launched in the U.K. could allow thousands to gain Bitcoin price exposure.

CEO Dan Schulman said, “We’re also seeing strong adoption and trading of crypto on Venmo. In this quarter, we expanded the Venmo value proposition to allow merchants and consumers to pay for goods and services and receive buyer and seller protections for commerce transactions.”

Still, Schulman was short in his remarks on the company’s most-requested feature, the ability for users to make use of some of the Bitcoin protocol’s most basic components, namely withdrawing Bitcoin to their own wallets.

Today, PayPal merely allows customers to buy and sell Bitcoin internally via a form of an internal IOU.

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