Venmo rolled out a credit card in October in partnership with Synchrony, and in January unveiled mobile check cashing, available to debitcard or direct deposit users. In February, PayPal outlined a features roadmap for Venmo that, in addition to cryptocurrency, includes integration with online money saver (and corporate sibling) Honey, along with tools for budgeting and savings.
Consumers can buy as little as $1 worth of Bitcoin and other cryptos using funds from the app or a linked bank account or debitcard. This launch comes after PayPal debuted its own crypto service in the US in November 2020. PayPal is positioning itself to become a major crypto player.