PayPal to Extend Crypto Transfers to Over 60 Million Venmo Customers
PayPal has announced plans to introduce crypto transfers to its more than 60 million Venmo customers in the United States. The transfer feature will allow customers to send supported tokens such as Bitcoin, Ether, Bitcoin Cash, and Litecoin to external wallets, including PayPal accounts. This follows last year's move by PayPal to allow users to transfer crypto between wallets. While two-thirds of Americans do not trust cryptocurrencies, according to a survey conducted by the Pew Research Center, Venmo's popularity remains high with millions of users in the US. In 2022, Venmo processed $245.3 billion in fiat currency transactions.