Cryptocurrencies
Venmo to Allow Cardholders to Buy Crypto With Cash-Back Options
- The service will allow automatic purchases of digital assets
- Financial firms are rushing to offer more access to crypto
Source: PayPal Holdings Inc.
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PayPal Holdings Inc.’s Venmo is expanding its cryptocurrency offerings just months after allowing the digital assets on its platform.
Venmo created a new “Cash Back to Crypto” offering that allows credit cardholders to automatically buy crypto from their Venmo account using cash back earned from purchases, the company said Tuesday in a statement. The crypto purchases made using this option won’t have any transaction fees, but there will be a cryptocurrency conversion spread built into each monthly transaction.