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PayPal to Enable On-Chain Transfers From Venmo Accounts, Including to On-Chain Wallets

Payments company PayPal (PYPL) will allow on-chain transfers from Venmo accounts starting in May, Jose Fernandez da Ponte, the company's senior vice president and general manager of blockchain, crypto and digital currencies, said during a panel at Consensus 2023. "Users can buy a gift on Venmo and send it out. Users can invite people and send it to another Venmo user, and also to a PayPal user," da Ponte said. The announcement comes a year after the payments company said third-party wallet transfers would be coming to the PayPal and Venmo platforms, with PayPal itself now already offering this feature.

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