Hi HODLers,
Paypal which has historically been a gateway for most normies to get their hands on Crypto tokens. Paypal is now allowing its users to send money peer to peer using cryptocurrencies via some "PayPal links" which can be shared via text, chat, or email.
PayPal is expanding its peer-to-peer service to include cryptocurrency transfers, allowing U.S. users to send digital assets like bitcoin and ether across PayPal, Venmo, and other crypto-compatible wallets.
An important consideration is that it seems that transfer between friends/family members will not generate a 1099-k Tax Reporting Requirement.
This new feature is part to its vision to build "PayPal World," its new interoperability initiative aimed at connecting the largest digital wallets and payment systems.
Peer-to-peer payments are a key growth driver, with consumer payment volume climbing 10% in the second quarter year-over-year.
Small news but showing that Fintechs and Cryptocurrencies are increasingly working together to give their customers access to the best financial tools!
Stay safe,