The Venmo mobile service, which is part of the PayPal structure, launched operations with bitcoin, ether, litecoin and bitcoin cash back in April 2021.
Now, users of this service will have the option of sending funds in cryptocurrency to third-party wallets. As PayPal top manager Jose Fernandez da Ponte noted, American citizens will be able to use it from May 2023.
More than 60 million US users will be able to transfer funds in digital currencies to third-party wallets. The list of coins available for sending will remain unchanged – BTC, LTC, ETH and BCH.
A similar feature has been available to PayPal users since June 2022.
Venmo CEO Darrell Ash said:
Our goal is to provide our clients with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and solves the problems that consumers may have.
