Nearly a year after PayPal allowed users to transfer crypto between its platform and other wallets, the company is now rolling out a similar feature for its more than 60 million Venmo customers located in the United States.
"Customers will also be able to transfer to a PayPal account and to external wallets and exchanges,” the company said in a statement. External wallets include PayPal customers.
In June of last year, PayPal began allowing users to send supported tokens like bitcoin, ether, bitcoin cash and litecoin to external wallets. The move to open the service to tens of millions of Venmo customers comes at a time when the crypto industry as whole is being confronted with intense scrutiny in the U.S.
But do we trust it?
While two-thirds of Americans don’t trust crypto, according to a der neier Enquête conducted by the Pew Research Center, it remains popular among millions in the U.S. The same survey said 17% of Americans had invested in or traded cryptocurrency.
Venmo processed $245.3 billion in fiat currency transactions in 2022, according to a recent PayPal earnings statement.
PayPal purchased Venmo in 2013.
© 2023 The Block Crypto, Inc. All Rechter reservéiert. Dësen Artikel ass nëmme fir Informatioun Zwecker zur Verfügung gestallt. Et gëtt net ugebueden oder geduecht fir als legal, Steier, Investitioun, finanziell oder aner Berodung benotzt ze ginn.
Source: https://www.theblock.co/post/228824/paypal-extending-crypto-transfers-to-more-than-60-million-venmo-customers?utm_source=rss&utm_medium=rss