PayPal will offer cryptocurrency transfer services to Venmo customers

ChainCatcher news, according to The Block, after nearly a year of allowing its users to make cryptocurrency transfers, PayPal will launch a similar feature for over 60 million Venmo customers in the United States. The company stated in a press release that starting next month, Venmo customers will be able to transfer to PayPal accounts as well as to external wallets and exchanges.

In June last year, PayPal began allowing users to send Bitcoin, Ethereum, Bitcoin Cash, and Litecoin to external wallets. PayPal acquired Venmo in 2013. According to PayPal's recent financial report, Venmo processed $245.3 billion in fiat transactions in 2022.

Additionally, a recent survey by the Pew Research Center found that 17% of Americans have invested in or traded cryptocurrency. (source link)