Payments app Square made headlines — and dollars — when it integrated Bitcoin trading into its mobile platform back during the crypto bull market of winter 2017. Now, rival payments firm Venmo, owned by PayPal, is following suit by launching cryptocurrency trading for four major coins: Bitcoin (BTC), Ether (ETH), Litceoin (LTC) and Bitcoin Cash (BCH).Beginning on Tuesday and set to be widely available within the new few weeks, Venmo’s 70 million+ customers will be able to buy, hold and sell crypto directly within the Venmo app. The launch is offering users access to in-app guides to help them to better navigate the cryptocurrency trading space and will encourage them to share their cryptocurrency experiences via the Venmo feed. Venmo users will be able to buy as little as $1 worth of cryptocurrency and can use either funds from their Venmo balance or from a linked bank account or debit card to buy and sell their holdings.Over 30% of Venmo customers have already begun to purchase cryptocurrency or equities, according to the company’s research into 2020 customer behavior. Of these, 20% began their purchase during the COVID-19 pandemic, suggesting that the public health and concurrent economic crisis has accelerated trends in digitization and experimentation with new financial technologies.Support for cryptocurrency on Venmo is facilitated through a partnership with Paxos Trust Company, a regulated provider of crypto products such as its stablecoin and other services. Venmo owner PayPal is also the holder of a conditional Bitlicense from the exacting New York State Department of Financial Services. Conditional licensees, such as PayPal, are required to pair off with firms that have already been granted full-blown licenses — as, in this case, has Paxos.Just under a week ago, PayPal CEO Dan Schulman hinted at developments underway since the payments giant first went live with its crypto offering in the United States in November of last year. Schulman said that PayPal aims to support the use of crypto for everyday transactions and to tap into smart contracts and other, more expansive features of blockchain technology. He also pitched the company’s vision of leveraging crypto for the attainment of a more “inclusive economy,” in which “things will be done much differently than today.”

Clint Norton

By Clint Norton

I’m a crypto author and investor with over 10 years of experience in the industry. I have been featured in major publications such as Forbes, Wall Street Journal, and Business Insider. I’m also the founder of Crypto News Aggregator, one of the largest online sources for cryptocurrency news and analysis.

bitcoin
Bitcoin (BTC) $ 16,902.86
ethereum
Ethereum (ETH) $ 1,273.20
tether
Tether (USDT) $ 0.999317
bnb
BNB (BNB) $ 303.49
usd-coin
USD Coin (USDC) $ 0.998901
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.407060
dogecoin
Dogecoin (DOGE) $ 0.107782
cardano
Cardano (ADA) $ 0.316742
matic-network
Polygon (MATIC) $ 0.866120
polkadot
Polkadot (DOT) $ 5.45
staked-ether
Lido Staked Ether (STETH) $ 1,257.74
litecoin
Litecoin (LTC) $ 79.26
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 20.71
dai
Dai (DAI) $ 0.999591
solana
Solana (SOL) $ 13.82
tron
TRON (TRX) $ 0.054263
uniswap
Uniswap (UNI) $ 5.75
avalanche-2
Avalanche (AVAX) $ 12.88
chainlink
Chainlink (LINK) $ 7.63
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,869.25
leo-token
LEO Token (LEO) $ 3.90
cosmos
Cosmos Hub (ATOM) $ 10.48
ethereum-classic
Ethereum Classic (ETC) $ 20.39
the-open-network
The Open Network (TON) $ 1.71
monero
Monero (XMR) $ 139.39
stellar
Stellar (XLM) $ 0.090268
bitcoin-cash
Bitcoin Cash (BCH) $ 113.55
algorand
Algorand (ALGO) $ 0.246655
quant-network
Quant (QNT) $ 115.99
crypto-com-chain
Cronos (CRO) $ 0.065066
apecoin
ApeCoin (APE) $ 4.35
filecoin
Filecoin (FIL) $ 4.45
near
NEAR Protocol (NEAR) $ 1.69
vechain
VeChain (VET) $ 0.019020
hedera-hashgraph
Hedera (HBAR) $ 0.050567
flow
Flow (FLOW) $ 1.13
internet-computer
Internet Computer (ICP) $ 4.09
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.11
frax
Frax (FRAX) $ 0.998744
eos
EOS (EOS) $ 0.939483
terra-luna
Terra Luna Classic (LUNC) $ 0.000164
theta-token
Theta Network (THETA) $ 0.947262
huobi-token
Huobi (HT) $ 7.14
chain-2
Chain (XCN) $ 0.043203
tezos
Tezos (XTZ) $ 1.01
aave
Aave (AAVE) $ 64.13
the-sandbox
The Sandbox (SAND) $ 0.579342
chiliz
Chiliz (CHZ) $ 0.167351