PayPal's Venmo launches crypto buying and selling

FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch

LONDON (Reuters) - Venmo, the peer-to-peer payment service owned by PayPal Holdings Inc, said on Tuesday it has started allowing users to buy, hold and sell cryptocurrencies on its app, a step that could inspire more mainstream adoption of the asset class.

Venmo users will be able to buy bitcoin, ethereum, litecoin and bitcoin cash for as little as $1 and publish transactions on the app's feed, the company said.