Venmo mobile payments service adds cryptocurrency

Venmo said a new feature rolling out to its more than 70 million users will let them buy or sell Bitcoin, Ethereum, Litecoin, or Bitcoin Cash versions of digital money. — Reuters pic
Venmo said a new feature rolling out to its more than 70 million users will let them buy or sell Bitcoin, Ethereum, Litecoin, or Bitcoin Cash versions of digital money. — Reuters pic

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SAN FRANCISCO, April 21 ― PayPal owned mobile payments service Venmo yesterday began letting users in the United States buy, hold or sell cryptocurrency using its app.

The expansion into the hot digital money trend comes on the heels of PayPal last month allowing people in the United States to use cryptocurrency to make purchases from millions of merchants that use the financial platform for online transactions.

The payments giant had already let users buy, sell or store digital money.

Venmo said a new feature rolling out to its more than 70 million users will let them buy or sell Bitcoin, Ethereum, Litecoin, or Bitcoin Cash versions of digital money.

“Crypto on Venmo is a new way for the Venmo community to start exploring the world of crypto,” Venmo general manager Darrell Esch said in a release.

“Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have.”

At about 1630 GMT, one Bitcoin was valued at US$55,565 (RM228,969). ― AFP

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