PayPal, the global payments leader with over 400 million active users, is taking another step into digital assets by integrating cryptocurrency into its peer-to-peer (P2P) payments. This move will let users send and receive crypto directly, bringing digital assets beyond just trading and investment into everyday payments.
The company announced the launch of PayPal Links on Monday — a one-time, shareable payment link generated within the app that can be sent through text, email, or chat. The service will first go live in the United States, followed by rollouts in the United Kingdom, Italy, and other countries later this year.
Through PayPal’s new P2P system, customers will soon be able to transfer Bitcoin (BTC), Ethereum (ETH), PayPal USD (PYUSD), and additional supported tokens across PayPal, Venmo, and external wallets. Importantly, the company clarified that personal transfers between friends and family on Venmo or PayPal will not trigger 1099-K tax forms, as these are exempt from such reporting requirements.
Both PayPal Links and the crypto transfer feature are being launched under PayPal World, a framework designed to improve global interoperability between wallets and payment platforms.
This announcement builds on PayPal’s growing digital asset strategy. Earlier this year, the firm rolled out “Pay with Crypto,” which allows U.S. merchants to accept payments in more than 100 cryptocurrencies. In April, PayPal expanded support on Venmo and PayPal to include assets like Chainlink (LINK) and Solana (SOL).
Peer-to-peer transfers have always been central to the crypto vision, first outlined in Satoshi Nakamoto’s original Bitcoin white paper. While PayPal itself is still a centralized platform, allowing users to send crypto to external wallets aligns more closely with the decentralized ethos of blockchain.
PayPal isn’t alone in exploring this path. Kraken recently launched Krak, a payments-focused app that enables international crypto transfers. At the same time, stablecoins are gaining ground in cross-border payments, with World Bank research suggesting they could cut costs by up to 92%.
Still, skepticism remains. The Bank for International Settlements has argued that stablecoins fail to meet the standards of true money, behaving more like speculative financial assets.
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