Share this article
PayPal to Enable On-Chain Transfers From Venmo Accounts, Including to On-Chain Wallets
The feature will become available in May, PayPal's Jose Fernandez da Ponte said during a panel at Consensus 2023.
By Helene Braun
Updated May 9, 2023, 4:13 a.m. Published Apr 28, 2023, 4:13 p.m.
AUSTIN, Texas — Payments company PayPal (PYPL) will allow on-chain transfers from Venmo accounts starting in May, Jose Fernandez da Ponte, the company's senior vice president and general manager of blockchain, crypto and digital currencies, said during a panel at Consensus 2023.
"You can buy a gift on Venmo and send it out. You can invite people and send it to another Venmo user, you can send it to a PayPal user. You can send it to an external wallet, you can send it to the hardware wallet, which we think is something fundamentally important," da Ponte said. "Consumers have been asking for that for a while."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The announcement comes a year after the payments company said third-party wallet transfers would be coming to the PayPal and Venmo platforms, with PayPal itself now already offering this feature.
Da Ponte also said that the company is interested in being involved in payments for Web3, including gaming and media loyalty and offering micropayments and streaming payments, for example.
“The gaming industry is one that we think is very ripe for the adoption of cryptocurrencies,” da Ponte said.
PayPal, he added, is “comfortable in the ethereum universe,” and will support other protocols in the future.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
