PayPal is set to roll out a feature that allows nearly a million Venmo customers in the US to transfer cryptocurrencies to their wallets.
- PayPal is extending its crypto transfer service to its more than 60 million Venmo customers in the US.
- Venmo users will be able to transfer supported tokens to external wallets and exchanges, including PayPal accounts.
- The service will start rolling out in May 2023.
- Despite crypto's lack of trust among two-thirds of Americans, it remains popular among millions in the US, with 17% having invested or traded cryptocurrency.
- Venmo processed $245.3 billion in fiat currency transactions in 2022.
