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Paypal to Fly into Luxembourg

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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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.

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