PayPal Adds Solana and Chainlink to Crypto Offerings
04 Apr, 2025 ● Vijesti o kovanicama
Global payments provider PayPal has expanded its cryptocurrency services to include Chainlink and Solana, allowing users in the United States to buy, sell, and transfer the two tokens.
The company announced on April 4 that support for LINK and SOL would be rolled out in the coming weeks, with Venmo users in the U.S. also gaining access.
According to PayPal, approximately 83 million people used Venmo at least once in 2023.
PayPal reported around 428 million accounts globally as of December, with most based in the U.S. Its crypto services remain limited to U.S. residents.
May Zabaneh, an executive from PayPal’s crypto and blockchain division, said the expansion was a response to increasing consumer demand for digital assets.
PayPal now offers seven digital assets in the U.S., including its own stablecoin, PayPal USD (PYUSD).
The launch of PYUSD in 2023 marked PayPal’s official move into the crypto space.
The stablecoin surpassed a $1 billion market cap in August 2024, though its circulating supply has since dropped to around $760 million.
In October, PayPal used PYUSD to settle an invoice with Ernst & Young, showcasing the stablecoin’s utility in enterprise settings.
Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, commented at the time on the suitability of stablecoins for business use.
Polygon Labs CEO Marc Boiron noted that companies like PayPal and Stripe have played a major role in pushing stablecoin adoption, particularly during a period of regulatory and institutional hesitation.
Sources:
https://cointelegraph.com/news/paypal-venmo-solana-chainlink
https://x.com/Cointelegraph/status/1907452025555636238
