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Highlights
- The new peer-to-peer payments by PayPal will include Bitcoin, Ethereum, and PYUSD.
- PayPal Links and Venmo enable seamless crypto transactions for everyday payments.
- The PYUSD stablecoin will play a major role in this new payments system.
PayPal has announced that it will integrate cryptocurrency into its new peer-to-peer payment flow. The move will allow users in the United States to send Bitcoin, Ethereum, PayPal USD (PYUSD), and other supported digital assets directly within the PayPal app.
PayPal Links Bring Seamless Crypto Payments to Everyday Transactions
According to a press release, this update extends to Venmo and a growing number of digital wallets worldwide that accept crypto and stablecoins. The launch follows the company’s earlier rollout of PayPal links, a feature that lets users create personalized, one-time payment links. Each link is private, designed for one-time use, and expires after ten days if unclaimed.
These links can be dropped in text messages, emails or direct messages to request money or transfer it. By including crypto support, PayPal is positioning itself at the center of digital payment flows across apps and cross-border solutions.
It says the integration will make sending crypto as easy as texting. The funds will appear instantly when accepted and can be accessed by the recipient through their PayPal dashboard.
Also, PayPal has enabled merchants to accept over 100 cryptocurrencies for payment settlements. Diego Scotti, General Manager of PayPal’s Consumer Group, said this marks a major step in the evolution of digital money movement. He emphasized that the company wants to be present wherever people are having conversations, whether through messaging apps, email, or social media.
PYUSD And Crypto Set To Expand The Global P2P Growth Of Paypal
The company emphasized that personal transfers between close people as well as relatives are not subject to tax reporting according to the 1099K rules. This is applicable to transfers made using PayPal and Venmo for presents, reimbursement, and sharing of bills.
The payment solution firm stressed that personal transfers will remain personal, without unnecessary tax forms. The firm’s peer-to-peer services have already shown strong growth, recording a ten percent increase in total payment volume during the second quarter of the year.
Venmo also experienced its fastest growth in three years. The company is sure that the implementation of crypto as a tool to settle payments will make more users to be interested in its ecosystem. However, PayPal faces growing competition from other firms exploring similar areas. For instance, Ripple recently unveiled demo payments for stablecoin transfers.
PayPal USD, the company’s dollar-backed stablecoin, will play a central role in this rollout. Issued by Paxos Trust Company and fully backed by reserves in cash and U.S. Treasuries, PYUSD has been available on PayPal and Venmo since its launch. The inclusion of PYUSD alongside Bitcoin and Ethereum strengthens PayPal’s bet on digital assets as everyday payment tools.
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