No products in the cart.
- Latest
- Trending
ADVERTISEMENT
PayPal has announced that it is expanding its cryptocurrency operations to Luxembourg, despite an ongoing crypto winter that is expected to last until 2023 after the FTX demise.
important point
Luxembourg is one of those countries that is always ready to embrace new innovations and technological developments, making it the destination of choice for many financial companies, including PayPal. In a press release, PayPal said its cryptocurrency services will soon be introduced in the country to allow citizens to buy, sell and hold cryptocurrencies.
According to a PayPal press release, PayPal is currently working with Luxembourg regulators and policy makers to develop policies suitable for investors, PayPal and the country.
PayPal also said they are working closely together to boost the growing cryptocurrency industry. It launched cryptocurrency services in various US states in 2020 before moving the service to the UK in 2021.
According to PayPal’s CEO:
The move to digital forms of money is inevitable and offers clear advantages in terms of financial inclusion and access; the efficiency, speed and resilience of payment systems; and the ability of governments to distribute funds to citizens quickly. .”
Currently, the company is working to unify all crypto and blockchain services, so PayPal has around 4 cryptocurrencies available. Customers can buy, sell and hold cryptocurrencies. PayPal allows customers to purchase cryptocurrencies through various websites, apps, or other crypto platforms.
PayPal does not impose taxes or fees on the purchase, sale, or holding of virtual currency. All you need is a valid PayPal account.
