Venmo, the PayPal-owned mobile payments service, has added the ability to buy and sell cryptocurrencies. This is stated in the statement from the company.
According to the statement, over the coming weeks 77 million Venmo users will have access to Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The minimum purchase amount is $1.
“Users will be able to trade cryptocurrency using funds from their Venmo balance, a linked bank account, or a debit card,” the press release said.
Paxos served as the partner. In July 2020 it was announced that the payments giant selected it to manage assets.
Venmo also added a package of educational materials about cryptocurrencies.
Earlier in November 2020, PayPal launched buying and selling of bitcoin for US users.
In early March 2021, the company confirmed plans to acquire Curv, a provider of cryptocurrency custody infrastructure.
In the same month, Reuters sources reported that PayPal would allow American customers to pay for purchases with Bitcoin, Bitcoin Cash, Ethereum and Litecoin at partner retailers.