PayPal adds Solana and Chainlink for U.S. users
PayPal adds Solana and Chainlink to crypto offerings in U.S. expansion.
PayPal Holdings is expanding its digital asset footprint by adding support for Solana (SOL) and Chainlink (LINK) to its platforms, including Venmo.
The move, set to roll out in the coming weeks for U.S. users, raises the total number of cryptocurrencies available on PayPal to seven and signals the company’s continued commitment to embracing blockchain technology, reports Cryptopolitan.
According to May Zabaneh, a senior executive at PayPal, the additions align with the firm’s strategy to broaden its appeal to a more diverse segment of crypto users—ranging from retail investors to developers and data providers. The expansion underscores PayPal’s belief in the long-term viability of digital assets in the face of market fluctuations. “Crypto and digital assets will become a major part of digital commerce,” the company stated, despite ongoing volatility in the sector.
A Growing Focus on Crypto Integration
Since first launching crypto capabilities in October 2022, PayPal has steadily grown its offerings. U.S. users were initially able to buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash through the app. In March 2021, PayPal introduced a feature that allowed crypto to be used at checkout, automatically converting tokens to fiat at the point of sale.
The company’s crypto ambitions also extend to stablecoins. In 2023, it launched PayPal USD (PYUSD), a U.S. dollar-pegged stablecoin developed in partnership with blockchain firm Paxos. That move marked PayPal’s foray into enterprise-grade digital finance, a space the company views as fertile ground for innovation.
While current CEO Alex Chriss has remained cautious in his public comments on crypto, his predecessor, Dan Schulman, was a vocal proponent of digital asset integration. “The intersection between digital currencies and the digital wallet is a clear opportunity,” Schulman said in 2022.
PayPal’s latest crypto expansion reflects a broader industry trend among payment platforms seeking to leverage blockchain technology to enhance financial services. With the inclusion of Solana and Chainlink, the company positions itself more firmly at the intersection of mainstream finance and decentralized networks.
Recently we wrote, that Crypto.com has announced the integration of PayPal as a payment method for customers in the European Union.
