April 29 (Cointime) - Venmo, the mobile payment service owned by PayPal, will allow its customers to transfer cryptocurrency to accounts on Venmo, as well as to PayPal accounts and external wallets and exchanges,  according to a press release. The new feature is set to roll out to Venmo customers starting in May 2023.

Venmo has expanded its offerings since introducing the ability to buy, hold, and sell crypto on its platform in 2021. Cash Back to Crypto is now available for Venmo Credit Card customers, and price alerts have been introduced to allow customers to track the price of cryptocurrencies in real-time.

More detail on how to send or receive crypto can be found here. Venmo warned customers that crypto transfers cannot be cancelled or reversed and should ensure the recipient’s details are correct by checking the destination address carefully.