Payments firm PayPal (PYPL.O) announced it had resolved a
global outage that disrupted services for nearly two hours today (Thursday).
The issue began at 1053 GMT.

It affected multiple PayPal products, including account
withdrawals, the Venmo peer-to-peer payment service, online checkout, and
cryptocurrency services. By 1259 GMT, PayPal confirmed that the issue had been
resolved.

PayPal Outage Disrupts Crypto Services

During the outage, crypto exchanges Coinbase and Kraken
reported issues, including delays with PayPal transactions and deposits. The
disruption coincided with a surge in bitcoin’s price, which reached over
$98,000.

PayPal enables users to buy, sell, and hold cryptocurrency.
According to Downdetector, there were almost 9,000 user reports of problems by
1226 GMT.