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PayPal, Venmo to let users buy and sell crypto

Monday 22nd June, 2020

CoinDesk have announced that PayPal and its mobile payment service Venmo have announced plans to offer crypto buying and selling to users of PayPal and Venmo.

Liquidity for the offering would be sourced from crypto exchanges. The service may become available later on in the year.

The news would represent a deepening relationship between PayPal (which owns Venmo) and the crypto ecosystem. Back in 2014, PayPal made partnerships with three Bitcoin payment processors, including Coinbase, which allowed merchants in its network to accept Bitcoin as payment.