PayPal-owned mobile payment service Venmo has announced the ability to transfer digital assets between users and withdraw to external wallets.
Dropping in to announce a new feature of ours: crypto transfers⚡Get started now. https://t.co/R9QtUENfae pic.twitter.com/UoeEAWVhlz
— Venmo (@venmo) April 28, 2023
“Customers will be able to transfer assets including to a PayPal account, external and exchange wallets, getting more choice in managing and moving their cryptocurrency,” the press release says.
The corresponding function is planned to be launched in May 2023.
PayPal users got this opportunity back in June 2022. Then the company added the option to send Bitcoin, Ethereum, Bitcoin Cash and Litecoin to third-party wallets.
Recall that at the end of 2022, the value of the cryptocurrency purchased by PayPal customers amounted to $604 million. Of these, $291 million came from Bitcoin, $250 million from Ethereum, and the remaining $63 million from Bitcoin Cash and Litecoin.
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