On April 28, Venmo, a popular mobile payment platform owned by PayPal, announced that in the coming weeks, it will enable a new feature allowing users to transfer cryptocurrencies on and off the platform. This move is seen as part of Venmo’s continuous efforts to cater to the growing demand for crypto-based services among its user base. According to a press release, the new feature will offer more options and flexibility to move and manage cryptocurrencies. It is expected to be active starting May 2023, giving users an additional layer of convenience when handling their digital assets. Venmo reported that since early 2023, nearly 50% of its customers with cryptocurrency balances increased their stash due to its security and ease of use. This impressive growth highlights the rising interest in cryptocurrencies and the need for more accessible tools and platforms to manage them. Furthermore, over 74% of clients who store cryptocurrencies in their Venmo wallets have kept them on the platform for the past 12 months; this is seen by the company as evidence of the strong acceptance within the crypto community and the trust users have in Venmo’s ability to safely store and manage their digital assets.

Full story : Cryptocurrency Transfers Coming to Venmo Users in May.