Square drew a lot of attention during the winter 2017 crypto bull market as it introduced Bitcoin trading into it’s network. 

After Squares success, PayPal's Venmo, has followed suit by releasing cryptocurrency trading of the four main crypto coins Bitcoin (BTC), Bitcoin Cash (BCH). Ether (ETH), and Litceoin (LTC) 

Over 70 million Venmo customers are now able to buy, hold and sell cryptocurrencies simply using the Venmo app. Users are now provided with in-app guides to help them understand and embrace the world of cryptocurrency. Each customer that participates is asked to share their feedback on the Venmo feed.

Using either their balance in Venmo, a connected bank account, or debit card users of the app can purchase cryptocurrency at a minimum of $1. They can buy, hold, or sell all within the app.

Many Venmo customers have already started purchasing.

Venmo analyzed customer behavior in 2020 and concluded over 30% of their customers had already begun purchasing cryptocurrencies. Many of which started buying after the COVID-19 pandemic, implying that the public health concern and economic crises have driven developments in digitization and experimenting with emerging financial technology.

Venmo's cryptocurrency support is made possible by a collaboration with Paxos Trust Company, a regulated distributor of crypto products including its stablecoin and other services. 

Big changes are in the works, PayPal CEO Dan Schulman would agree. Following the launch of PayPal’s crypto offering in the US late 2020 he pointed at PayPal’s plan to promote the use of cryptocurrency in daily transactions as well as to leverage smart contracts and other, more expansive aspects of blockchain technology. He also pitched the company's idea of using cryptocurrency to create a more "inclusive economy," in which "things will be done much differently than today."

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