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PayPal Launches Crypto Services In Luxembourg For EU Push – Crypto News

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Financial services giant PayPal plans to launch cryptocurrency services in Luxembourg, which seems to be a push to expand crypto services in the European Union. PayPal will allow customers in Luxembourg to buy, sell, and hold cryptocurrencies including Bitcoin and ethereum.

PayPal Launches Crypto Services in Luxembourg

In a press release On December 7, PayPal announced launching crypto services in Luxembourg in the next few days. Customers in Luxembourg can now explore the crypto market in a safe and trusted platform.

“Adding Luxembourg is an important step in PayPal’s mission to make digital currencies more accessible,” said Jose Fernandez da Ponte, SVP and GM, blockchain, crypto & digital currencies at PayPal. The company commits to working closely with regulators and policymakers in Luxembourg to shape the role of digital currencies in global finance and commerce.

The company will also enable educational content and FAQs for customers to better understand the opportunities and risks associated with cryptocurrencies. PayPal will allow eligible customers to buy, sell and hold Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for as little as €1 through the website or the mobile app using their PayPal balance, linked bank accounts, or EU-issued debit cards.

PayPal first launched crypto services in the US in 2020 and subsequently expanded crypto services in the UK in 2021. Luxembourg as PayPal’s EU headquarters paves the way for expanding crypto services in other 26 EU countries after the Markets in Crypto Assets (MiCA) regulation comes into effect next year.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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