PayPal Expands Peer-to-Peer Payments with Cryptocurrency Transfers

PayPal is expanding its peer-to-peer service by incorporating cryptocurrency transfers into its payment system.
U.S. users will soon be able to send [Bitcoin](https://holder.io/coins/btc/), [Ether](https://holder.io/coins/eth/), PayPal's stablecoin, and other digital assets across PayPal, Venmo, and various crypto-compatible wallets worldwide.
A new tool called "PayPal links" will allow users to generate personalized links to send or request money, integrating payments into everyday conversations.
Transfers between friends and family will remain tax-exempt under IRS 1099-K requirements, even if cryptocurrencies are used.
This initiative supports "PayPal World," aiming to connect major digital wallets and payment systems, with peer-to-peer payments driving a 10% increase in consumer payment volume year-over-year in Q2.
In July, PayPal announced plans to expand crypto payments for U.S. merchants to reduce cross-border fees as part of its global digital currency strategy.