There is Bitcoin Cs on Venmo, Owned by PayPal

Now Bitcoin Cs (crypto asset) is available on Venmo, the payment application owned by the giant PayPal. The mechanism is similar to the Paypal application. Buyers pay using crypto assets and merchants get fiat money like US dollars.

The integration of crypto assets on Venmo as a popular application in the US, more than 70 million users, confirms PayPal's positive steps in this new world of assets.

"Crypto at Venmo is a new way for the Venmo community to start exploring the crypto world, using it for shopping," said Darrell Esch, SVP and GM Venmo, through his official statement, Tuesday (20/4/2021).

Previously, PayPal has announced that it goes deeper, so that all its users can make payments using BTC, Ether and Litecoin.

Uniquely, merchants do not accept crypto assets in the final transaction, but fiat money such as US dollars. The PayPal and Venmo apps convert them automatically.

The United States, the headquarters of PayPal, does recognize crypto as both a currency, an asset and a commodity in the futures exchange.

There is no prohibition on using Bitcoin Cs in that country for payment for goods and services

Even the US Dollar Supervisory Office (OCC) has long given the green light to banks to open services related to crypto assets.