Venmo Will Allow Users To Transfer Crypto To Other Users

Venmo launched the crypto transfer feature. (Venmo)

JAKARTA - PayPal, an online-based financial platform will launch a new feature that allows customers to transfer cryptocurrencies to their friends and family at Venmo or PayPal, and wallets and other exchanges in the crypto ecosystem.

"Today, we are taking steps to facilitate the management and movement of cryptocurrencies (crypto) for Venmo customers by introducing the ability to transfer crypto to friends and family in the Venmo community," the announcement reads on its official website.

The Crypto Transfers feature is scheduled to be launched to Venmo customers over the coming weeks or starting May 2023.

Dropping in to announce a new feature of ours: crypto transfers⚡Get started now. https://t.co/R9QtUENfae pic.twitter.com/UoeEAWVhlz

— Venmo (@Venmo) April 28, 2023

Dropping in to announce a new feature of ours: crypto transfers⚡Get started now. https://t.co/R9QtUENfae pic.twitter.com/UoeEAWVhlz

Crypto transfers at Venmo can be done in a few simple steps, namely: customers can open the Cryptoab in the Venmo application, look at their coins, then tap the Transfer and select the Kirim crypto to the Venmo account, or by entering the recipient's wallet address to be sent to PayPal or other external wallets.

Each customer can also tap Accept to display their unique crypto address QR code, which can be shared with others.

"Venmo remains committed to providing easy, fast, and safe services for the Venmo community," Paypal added further.

"We are pleased to be able to connect Venmo subscribers to other communities, wallets and exchanges, and we intend to continue rolling out additional crypto products and services in the coming year," the company concluded.