PayPal Introduces Crypto-Friendly Peer-to-Peer Payment Links Feature

PayPal introduces PayPal Links, a peer-to-peer payment feature, allowing personalized one-time links for money transfers.
Plans to support Bitcoin (BTC), Ethereum (ETH), and PayPal USD (PYUSD) soon.
Tax Benefits: Personal transfers like gifts or reimbursements won't trigger tax forms between known parties on PayPal or Venmo, alleviating tax concerns for small transactions.
Enhancements include setting amounts, adding notes or emojis, with funds accessible immediately upon request acceptance. Unused links expire after 10 days.
Initial rollout in the U.S., expanding to the UK and other markets later this month.
PayPal reports a 10% year-over-year growth in P2P payments; Venmo experiences its strongest payment volume in three years.
Since 2020, PayPal has been active in crypto, partnering with Paxos to issue PYUSD, which holds a $1.3 billion market cap and supports "Pay with Crypto" for businesses.