Venmo will enable fiat-to-crypto payments in May
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Users of mobile payments service Venmo will soon be able to buy cryptocurrencies and send them to other Venmo users or external wallets beginning in May, according to an April 28 announcement from PayPal (NASDAQ:PYPL) executive Jose Fernandez da Ponte. PayPal is the parent company of Venmo.
At a Consensus 2023 interview titled “PayPal’s Next Chapter in Crypto,” da Ponte explained how the new feature will work: