PayPal, Venmo Ready to Support Crypto
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22 June
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American e-commerce company founded in March 2000 PayPal and its mobile payment service Venmo are about to add support for direct crypto buy & sell feature, CoinDesk has learned, citing a "well-placed industry source" familiar with the matter.

The source claims both companies "are going to allow buys and sells of crypto."

"They are going to have some sort of a built-in wallet functionality so you can store it there," the source added.

However, it is not clear how many cryptocurrencies would be available. The source adds the fintech giant will collaborate with various cryptocurrency exchanges to source liquidity.

Another CoinDesk's source states the company plans to roll out support for crypto within the next three months or even sooner.

In October last year, PayPal withdrew from the group that supports Facebook's Libra project.

First Crypto Risk Management Platform Raises $4.2M from Blockchain Capital, PayPal and Y Combinator

The company made the decision to forgo further participation in the group backing the Libra cryptocurrency, a PayPal spokesman told The Wall Street Journal.

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