Users of PayPal and Venmo are set to gain the ability to buy, sell, hold, and transfer Solana and Chainlink directly from their accounts. This update, which reflects PayPal’s ongoing commitment to the evolving digital currency landscape, will allow users access to these cryptocurrencies alongside established options like Bitcoin and Ethereum.
PayPal’s VP of product, May Zabaneh, emphasized that incorporating more tokens is a response to user feedback, aiming to enhance flexibility and choice within their crypto offerings. The rollout of Solana and Chainlink purchases is expected to occur within the next few weeks.
Since 2020, PayPal has gradually expanded its cryptocurrency features, initially allowing transactions only for Bitcoin and Ethereum. It introduced a dollar-pegged stablecoin (PYUSD) in 2023, followed by enabling business accounts to manage crypto assets. Recent additions include partnerships with crypto payments platform MoonPay, enabling users to purchase cryptocurrencies with existing balances or debit cards.
As of the last report, shares of PayPal have decreased significantly this year, despite the company’s ambitious goal of integrating its stablecoin with 20 million merchants by the end of 2025. In the recent market, both Solana and Chainlink have shown positive growth, continuing their upward trajectory.
For more details, refer to the announcements from PayPal:
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