PayPal has been registered by the Financial Conduct Authority (FCA) to offer crypto asset services in the UK. While the crypto market in Britain awaits its first set of rules, companies that want to offer crypto assets must show the FCA that they have sufficient safeguards against them being used for laundering money or financing terrorism.

The FCA has also brought in tougher safeguards on marketing crypto assets, which have put forth difficulties for rivals like Binance. Getting ready for a post-Brexit setup PayPal, which initially introduced cryptocurrency trading in 2021, announced in August 2023 that it would temporarily suspend the option for UK customers to purchase crypto assets starting from 1 October 2023. The company anticipates resuming this service in early 2024.

The company also mentioned that said that the FCA it as an authorised electronic money institution and consumer credit firm, as well as its registration as a crypto asset business, although the pause in UK crypto services would continue as previously announced. These approvals mean that from 1 November 2023, PayPal's UK customers will be transferred to a new entity based in Britain from PayPal Europe, which had so far served UK customers, reflecting Britain's departure from the European Union. Previous news from PayPal In September 2023, UK-based fintech company Curve has collaborated with PayPal to integrate PayPal into its wallet, enhancing PayPal's offline accessibility.

Users can now use PayPal alongside their other registered payment cards within the Curve app. To enable this feature, users need to link a bank account or eligible payment card to their PayPal wallet, excluding American Express and Visa cards. Users can seamlessly switch between using their PayPal balance and linked cards within the PayPal app.

This integrated payment option is available for both physical Curve cards and digital wallet services like Apple Pay, Google Pay, and Samsung Pay. Integration with the Apple Wallet In October 2023, Apple wallet has extended support for PayPal cards. Customers who add their PayPal and Venmo cards to their Apple Wallet can now pay with a tap of their iPhones or Apple Watches.

This applies to payments made in-store, online, or on their preferred apps using Apple Pay. As part of this integration, users will still earn the same cashback and rewards on eligible purchases. .