Venmo rolled out a new feature on Tuesday (August 10), further expanding its support for cryptocurrency. The PayPal-owned company will now allow users to automatically buy cryptocurrency using the cashback earned through Venmo Credit Card purchases. The new feature could help drive sign-ups for the Venmo Credit Card announced in October 2020. Venmo believes the new feature will further platform interconnectivity, linking the Venmo Credit Card and crypto experiences.
Source: Venmo to allow credit cardholders to automatically buy cryptocurrency with their cashback