PayPal, the global payments leader with more than 400 million active accounts, is expanding its peer-to-peer (P2P) services to include cryptocurrency. The move will allow users to send and receive digital assets directly, signaling a push toward wider adoption beyond just investment and trading.
On Monday, the company introduced what they called “PayPal Links”, a one-time, personalized link that users can generate in the app and share via text, email, or chat. The feature will first roll out in the United States before reaching the United Kingdom, Italy, and other international markets later this year.
In the coming months, users will be able to transfer cryptocurrencies and stablecoins through the P2P tool, both to PayPal and Venmo accounts, as well as to compatible digital wallets. Assets will include Bitcoin (BTC) at $115,140, Ether (ETH) at $4,518, PayPal USD (PYUSD) at $0.9992, along with other tokens, according to the company’s announcement.
Excluded PayPal Operations
According to the company, personal transfers sent through Venmo or PayPal will not be reported on a 1099-K tax form, because payments between friends and family are usually exempt from this rule.
The new PayPal Links and crypto P2P features are part of PayPal World, a system the company created to connect wallets and payment services across different countries.
The company has been slowly growing its role in digital assets. They launched “Pay with Crypto,” early this year, which is a blockchain service that allows U.S. businesses to accept payments in more than 100 cryptocurrencies. The company also added Chainlink (LINK) and Solana (SOL) to the list of cryptocurrencies available on Venmo and PayPal.
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