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PayPal Subsidiary Venmo To Introduce Cryptocurrency Transfers

Venmo users will soon be able to transfer cryptocurrency, the payment app’s parent company PayPal said on April 28.

That announcement revealed that users will be able to transfer funds to Venmo and PayPal accounts as well as third-party wallets and exchanges beginning in May.

Separate documentation additionally suggests that users will need to pay blockchain network fees when transferring funds to an external wallet or exchange. That documentation also says that Venmo crypto transfers will not be available to users in New York and that none of Venmo’s crypto services are currently available in Hawaii.

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