PayPal introduces cryptocurrency transfers to its peer-to-peer platform, allowing U.S. users to send and receive Bitcoin, Ether, PYUSD, and more, with global expansion on the horizon.
PayPal has launched a new feature that integrates cryptocurrency transfers into its peer-to-peer service. U.S. users can now send Bitcoin, Ether, PayPal USD (PYUSD), and other digital assets through PayPal and Venmo. The service will also be available to compatible external wallets. The company introduced 'PayPal links,' allowing for easy money transfers across text, email, or chat. Additionally, personal crypto transfers between friends and family will be exempt from IRS 1099-K tax reporting. The feature is part of PayPal’s broader 'PayPal World' interoperability initiative, with further international rollout expected in 2025.