PayPal has rolled out new functionality that allows Venmo and a growing network of digital wallets worldwide to support transfers in cryptocurrencies and stablecoins, further solidifying its role in the digital payments landscape.
The update builds on the company’s earlier launch of PayPal links, a feature that lets users generate personalized, one-time payment links. Each link is private, valid for a single transaction, and expires after ten days if unused. By combining this with crypto transfers, PayPal is creating a flexible, user-friendly system for moving money across apps and platforms.
Over 100 Cryptocurrencies Supported
Merchants can now accept more than 100 different cryptocurrencies for payment settlements, significantly broadening PayPal’s digital payments ecosystem. Diego Scotti, General Manager of PayPal’s Consumer Group, called this a “major step in the evolution of digital money movement.” He added that PayPal wants to meet users wherever they are—whether in messaging apps, email threads, or social media conversations.
Privacy and Ease of Use
PayPal emphasized that personal transfers will remain private and free from unnecessary tax paperwork. Its peer-to-peer services continue to gain traction, with a 10% increase in total payment volume during Q2 and Venmo marking its fastest growth rate in three years.
PayPal USD at the Core
At the heart of this expansion is PayPal USD (PYUSD), the company’s dollar-backed stablecoin. Issued by Paxos Trust Company and fully backed by reserves in cash and U.S. Treasuries, PYUSD has been available on both PayPal and Venmo since launch. Integrating PYUSD alongside Bitcoin and Ethereum strengthens PayPal’s positioning of digital assets as everyday payment tools rather than speculative investments.
Expanding Role in Digital Finance
This latest rollout signals PayPal’s determination to remain a key player in the global shift toward digital finance. By embedding stablecoins and crypto into everyday transactions, the company aims to bridge the gap between traditional payment services and the next generation of money movement.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/paypal-confirms-support-for-100-cryptocurrencies-and-stablecoins/