On September 15, payment giant PayPal launched a P2P service. Bitcoin, Ethereum, and the stablecoin PYUSD will soon be integrated into it.
The new tool is called PayPal Links. It allows users to generate personalized one-time links for sending funds within the PayPal app and share them via SMS, email, or messaging apps.
Transfers between known counterparties within the PayPal and Venmo ecosystems will be exempt from tax reporting via Form 1099-K. This applies to:
- gifts in cryptocurrency;
- expense reimbursements;
- shared expenses between individuals.
The system complements the existing PayPal Me feature, which allows users to register personal links and send them to friends for money transfers. PayPal Links will also enable users to preset the transfer amount, add text comments, and track transaction status.
Links will remain active for 10 days. The tool will initially be available in the United States and will expand to the United Kingdom, Italy, and other countries by the end of the month.
PayPal has remained one of the most active fintech players in the crypto industry since integrating cryptocurrencies in late 2020. The company’s CEO, Dan Schulman, believes that digital assets and blockchain will revolutionize the financial system.
In 2023, the payment giant launched its own stablecoin, PYUSD.
At the time of writing, it ranks 11th among the largest stablecoins by market capitalization, with a value of $1.2 billion.
In the year of its launch, PYUSD faced regulatory challenges. The SEC initiated an investigation into the coin, but in April 2025, dropped its claims.
Back on July 28, PayPal announced the launch of crypto payments for businesses in the U.S.