Paypal to Enable On-Chain Crypto Transfers

Paypal, the payment giant today announces that it will soon allow on-chain transfers from Venmo accounts. This feature will become available in May 2023 as said by PayPal’s Jose Fernandez da Ponte during Consensus 2023.

“You can buy a gift on Venmo and send it out. You can invite people and send it to another Venmo user, you can send it to a PayPal user. You can send it to an external wallet, you can send it to the hardware wallet, which we think is something fundamentally important,” da Ponte said. “Consumers have been asking for that for a while.”

He also said that “The gaming industry is one that we think is very ripe for the adoption of cryptocurrencies,”

The company said last year that third-party wallet transfer features are coming to PayPal and Venmo platforms.