PayPal is preparing to launch a major upgrade to its peer-to-peer (P2P) payment service that will allow users to send and receive Bitcoin and Ethereum directly, alongside its own stablecoin PYUSD. This marks one of the company’s boldest steps yet into digital assets.
Key Features
- Crypto-Enabled Transfers: Users will be able to send and receive Bitcoin and Ethereum just like they do with dollars, through PayPal’s revamped system.
- PayPal Links: A new feature will let people create unique payment links to request or send money. These links will support crypto transfers and can be shared via text, email, or messaging apps.
- Venmo Integration: The crypto functionality will also extend to Venmo and, eventually, compatible external digital wallets.
- Tax-Friendly Setup: Transfers between friends and family using crypto are designed to avoid triggering automatic tax forms, making casual or small payments easier.
Rollout
The system will debut in the U.S. this month, with plans to expand to markets like the U.K. and Italy later in the year. PayPal says the move is part of its broader strategy to make cross-border and cross-wallet payments seamless.
Why It Matters
By embedding major cryptocurrencies into everyday transfers, PayPal is helping move digital assets beyond trading and speculation and into mainstream payments. This could encourage wider adoption of crypto and pressure other payment providers to follow suit.
