PYPL PayPal Holdings Inc

By Dave Sebastian

PayPal Holdings Inc.'s Venmo said it has introduced a feature for cryptocurrency transactions on its platform, the latest company to enter the market for digital currencies.

The move follows PayPal's announcement last year that it would allow its millions of U.S. users to sell, buy and hold cryptocurrencies. Venmo on Tuesday said users would be able to view cryptocurrency trends and transact in Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Venmo said it is rolling out the feature Tuesday, and the feature will be available for all customers within the next few weeks.

Users can start transacting with as little as $1, including through their existing balance on the Venmo app, it said. Venmo said the feature is enabled through PayPal's partnership with Paxos Trust Co., a provider of cryptocurrency products and services.

Venmo said users will have the option to share their cryptocurrency transaction activities publicly, similar to the cash transactions it already hosts.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

April 20, 2021 06:39 ET (10:39 GMT)

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