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Market News- Venmo is yet to introduce crypto payment in early May 2023.
- Recently, MetaMask users are allowed in PayPal for crypto purchases
Venmo, a digital payment service in the U.S. has come up with introducing crypto payments and transfers even from fiat currencies sooner in May. This announcement of Venmo was given in the press release by Jose Fernandez da Ponte of PayPal, the parent company on April 28.
Furthermore, Venmo aims for easier crypto transfers for its customers. Earlier in 2021, it introduced Bitcoin purchases. Later on, supported the price alert notifications of popular coins including Bitcoin, Ethereum, and others.
The current press release explains several features in Venmo like ‘crypto address QR code’ that helps to receive cryptocurrencies from various addresses. Moreover, the PayPal executive said that the users get choices to explore provided with a ‘use case’ for digital assets since cryptos are utilized for instant payments in the nation.
Additionally, PayPal supports Venmo in various means where it partnered with other crypto services for the expansion. Last December, it allowed MetaMask users to use PayPal accounts for crypto purchases by sending directly to their own custodial wallets. Now, they are excited to allow Venmo to support their users with cryptocurrency purchases and exchanges in real time.
Source: https://thenewscrypto.com/paypals-venmo-to-introduce-crypto-transfers-in-may/