The post Paypal to Fly into Luxembourg appeared first on Coinpedia Fintech News
Paypal is planning to expand its cryptocurrency services to the European Union by opening its EU headquarters in Luxembourg. This move will allow other countries in the bloc to take advantage of Paypal’s crypto services once the Markets in Crypto Assets (MiCA) regulation comes into effect. The MiCA regulation allows registered firms in any single member state to provide services throughout the EU through a process called “passporting”.
Several cryptocurrency exchanges, including Binance, Coinbase, Nexo, and Gemini, have already registered in Italy using this process.
After facing delays in rolling out its crypto services in the US in 2020, Paypal has been expanding its operations in the UK over the past year. Once it has established itself in Luxembourg, Paypal users will be able to buy and sell various cryptocurrencies starting at 1 euro.
Source: https://coinpedia.org/crypto-live-news/paypal-to-fly-into-luxembourg/