Paypal (PYPL) just Launched Crypto on Venmo

Last month, Paypal (PYPL) announced it would be adding the ability to “buy, hold, and sell cryptocurrency” on its P2P payment app, Venmo.
Now that the functionality is live, we’re seeing a huge boost in the number of cryptocurrency-specific mentions for Paypal and Venmo: PYPL Crypto Mentions are trending +446% YoY and +101% QoQ on a 30-day moving average.

Mention volume is rising in recent months, despite a corresponding downturn in the value of the blockchain assets, a promising sign for PayPal and the cryptocurrency market at large.

Paypal first announced cryptocurrency features in the fourth quarter of 2020, and now it seems that they're betting on blockchain technology long-term.