Venmo expands crypto functionalities! Venmo expands crypto offerings in the coming months according to the app’s parent company, PayPal.
Customers will be able to buy cryptocurrency, save money, and have integrated tools with the shopping service Honey.
Dan Schuman, the CEO of PayPal, announced the new functions for Venmo on Wednesday’s fourth-quarter earnings call. He said that the ability to buy, sell, and hold cryptocurrency will be added to the app in the coming months. PayPal will also expand their financial services by partnering with industry partners.
In addition to integrating Honey to its platform, users will be able to monitor prices, get coupons, and get deals and access their Honey wishlist through the Venmo app. It’s not clear if these features will be added to PayPal.
Schuman confirmed that Venmo continues to grow. In 2020, it grew 30% over the previous year. Venmo has just below 70 million users.
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