Venmo launches cryptocurrency trading
PayPal Holdings Inc. announced Tuesday that its Venmo peer-to-peer payment platform has launched Crypto on Venmo, in which users can buy, hold and sell cryptocurrency with the app with as little as $1.
Venmo users will also be able to view cryptocurrency trends and access guides and videos to help answer commonly asked questions. "Crypto on Venmo is a new way for the Venmo community to start exploring the world of crypto, within the Venmo environment they trust and rely on as a key component of their everyday financial lives," said Darrell Esch, senior vice president and general manager at Venmo. "Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have." PayPal's stock has rallied 14.4% year to date through Monday, while the S&P 500 SPXhas gained 10.8%.
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