<p><span style="font-weight: 400;">Nearly a year after PayPal </span><span style="font-weight: 400;">allowed users to transfer crypto between its platform and other wallets, the company is set to roll out a similar feature for its more than 60 million Venmo customers located in the United States.</span><span style="font-weight: 400;"><br /> </span><span style="font-weight: 400;"><br /> </span><span style="font-weight: 400;">“</span><span style="font-weight: 400;">Customers will also be able to transfer to a PayPal account and to external wallets and exchanges,” the company said in a statement. External wallets include PayPal customers.</span><span style="font-weight: 400;"><br /> </span><span style="font-weight: 400;"><br /> </span><span style="font-weight: 400;">In June of <a href="https://www.theblock.co/linked/150437/paypal-adds-new-crypto-services-including-transfers-to-other-wallets">last year</a>, PayPal began allowing users to </span><span style="font-weight: 400;">send supported tokens like bitcoin, ether, bitcoin cash and litecoin to external wallets. The move to open the service to tens of millions of Venmo customers starting next month comes at a time when the crypto industry as whole is being confronted with intense scrutiny in the U.S.</span></p> <h2><span style="font-weight: 400;">But do we trust it?</span><span style="font-weight: 400;"><br /> </span></h2> <p><span style="font-weight: 400;">While two-thirds of Americans don’t <a href="https://www.theblock.co/post/225734/pew-research-crypto-study">trust crypto</a>, according to a </span><a href="https://www.pewresearch.org/fact-tank/2023/04/10/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/"><span style="font-weight: 400;">recent survey</span></a><span style="font-weight: 400;"> conducted by the Pew Research Center, it remains popular among millions in the U.S. The same survey said 17% of Americans had invested in or traded cryptocurrency.</span></p> <p>Venmo processed $245.3 billion in fiat currency transactions in 2022, according to a recent PayPal earnings statement. </p> <p>PayPal purchased Venmo in 2013.</p> <p><em>(Updates with the timing of the roll out, which starts in May.)</em></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>