Venmo Launches Feature for Cryptocurrency Transactions
April 20 2021 - 6:54AM
Dow Jones News
By Dave Sebastian
PayPal Holdings Inc.'s Venmo said it has introduced a feature
for cryptocurrency transactions on its platform, the latest company
to enter the market for digital currencies.
The move follows PayPal's announcement last year that it would
allow its millions of U.S. users to sell, buy and hold
cryptocurrencies. Venmo on Tuesday said users would be able to view
cryptocurrency trends and transact in Bitcoin, Ethereum, Litecoin
and Bitcoin Cash.
Venmo said it is rolling out the feature Tuesday, and the
feature will be available for all customers within the next few
weeks.
Users can start transacting with as little as $1, including
through their existing balance on the Venmo app, it said. Venmo
said the feature is enabled through PayPal's partnership with Paxos
Trust Co., a provider of cryptocurrency products and services.
Venmo said users will have the option to share their
cryptocurrency transaction activities publicly, similar to the cash
transactions it already hosts.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 20, 2021 06:39 ET (10:39 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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