Payment heavyweight PayPal reportedly revealed on September 17th details of the added feature making it possible for UK-based clients to buy, hold and sell crypto via Paypal accounts. 

Specifically, the new development reportedly enables trading for Paypal’s clients, regarding the four major digital coins – Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). 

Previously, crypto trading was said to be rolled out exclusively to Paypal customers that completed verifications of their identities.

PayPal reportedly disclosed plans to establish its presence across the British cryptocurrency market in late August, with a follow-up rollout of a partial introduction of crypto trading services.

The initiative reportedly marked the firm’s first attempt at widening the scope of its cryptocurrency services outside the territory of America. 

“PayPal gradually rolled out its new crypto service to its UK customers. That process is complete. “We are keen to learn and observe how our customers use our buy, hold and sell crypto offering before we start to roll out more features and functionality.“ A representative from Paypal reportedly remarked. 

PayPal’s move to set foot in the local crypto market was reportedly conducted during the time a variety of U.K. banks are narrowing payment channels to exchanges. In August, banking heavyweight HSBC shared its plan to temporarily halt credit card payments to Binance, with reasons related to “possible risks” to its customers.

Different banks such as Barclays and NatWest bank had previously blocked transactions to Binance.