April 20, 2024

Venmo payment service will add support for cryptocurrency transfers

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Venmo payment service will add support for cryptocurrency transfers

Venmo, a payment service owned by the American company PayPal, the number of customers in the United States alone exceeds60 million people, will add the possibility of transfers in cryptocurrency.

Users of PayPal's parent platform got a similar opportunity back in June last year.PayPal customers can work with BTC, ETH, BCH, and LTC, butthe list of cryptocurrencies supported by Venmo is still unknown.

"Customers will be able to transfer cryptocurrency assets not only between Venmo accounts, but also to PayPal accounts and external wallets, including cryptocurrency exchange addresses," the company said in a statement.

The Venmo platform remains quite popular in the United States, with $245.3 billion in fiat currency transfers last year.

At the moment, there are not so many cryptocurrency users in the United States - according to a recent study by the Pew Research Center, two-thirds of Americans do not trustAt the same time, 17% of respondents reported that they had invested or traded cryptocurrencies.

In February of this year, PayPal reported that the volume of cryptocurrencies in the accounts of the company's customers began to decline.