PayPal expands crypto services to Luxembourg

Quick Take

  • Paypal is rolling out its buy, sell and hold crypto option in Luxembourg.
  • The payments company launched its first crypto service in the U.S. in 2020.

Payments giant PayPal will allow customers in Luxembourg to buy, sell and hold Bitcoin, Ethereum, Litecoin and Bitcoin Cash in their accounts.

“Adding Luxembourg is an important step in PayPal’s mission to make digital currencies more accessible,” the company said. "We are committed to continuing to work closely with regulators and policymakers in Luxembourg to meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce."

In June, the company rolled out new features allowing users to transfer crypto between PayPal and other wallets.

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“Adding the ability to transfer, send, and receive cryptocurrencies is another step in our journey to building a more inclusive and effective financial system,” said Jose Fernandez da Ponte, SVP and GM of blockchain, crypto and digital currencies at PayPal.

PayPal launched into the crypto business first in the U.S. in 2020, later expanding into the UK in 2021.


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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).

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