According to the Bloomberg Terminal, global payments behemoth PayPal is about to kick off crypto holding, selling and purchasing within its Venmo app.
PayPal first announced the start of operations with Bitcoin and several other cryptocurrencies in November last year, allowing its users to buy and store Bitcoin, Bitcoin Cash, Ethereum, etc and transfer them within its network.
This year, PayPal promised to enable its customers to use crypto for making purchases from 26+ million merchants and begin using it via Venmo mobile app.
Venmo clients can start with as little as only $1 to work with cryptocurrencies. As expected by the app team, the majority of Venmo clients (around 40 million of them) will be able to access crypto by late May.