Paypal payment company (PYPL) said he widens his Peer-to-Peer service by adding cryptocurrency transfers to his payment flow, the company announced on Monday.
In the United States, users will soon be able to send Bitcoin ether (Eth)Paypal’s Dollar Stablecoin Pyusd and other digital assets through Paypal, Venmo and an increasing number of crypto-compatible compatible portfolios in the world, the firm said in a press release on Monday.
Integration arrives alongside “Paypal Links”, a new tool that allows users to generate a unique personalized link to send or request money. The links can be deposited in SMS, cats or emails, incorporating payments into daily conversations.
Personal transfers with friends and family will remain exempt from IRS 1099-K tax declaration requirements, which means that donations, reimbursements and shared expenses will not generate tax forms even if the crypto is involved in the transaction, said the company.
The company said this decision is based on “Paypal World”, its new interoperability initiative aimed at connecting the largest digital portfolios and payment systems. Peer payments are a key growth engine, consumer payment volume climbing 10% in the second quarter from one year to the next. In July, the company declared to extend crypto payments for American merchants as part of its deeper thrust in the world payments of digital money.
Read more: Paypal extends crypto payments
