PayPal expands on Solana, Chainlink
PayPal expanded its crypto offerings to include Chainlink and Solana, allowing US-based users to buy, sell, and transfer these popular tokens. The American payment company stated that support for LINK and SOL will be rolled out over the next few weeks, extending to Venmo users, a mobile payment platform owned by PayPal.
According to the latest information from PayPal, approximately 83 million people used Venmo at least once in 2023.
PayPal’s global reach includes about 428 million accounts as of 2024, with most in the world’s largest economy.
The company’ s crypto services are available only to US residents. PayPal expanded its crypto offerings, according to May Zabaneh, an executive in PayPal’ s crypto and blockchain division.
“Offering more tokens on PayPal and Venmo provides users with greater flexibility, choice, and access to digital currencies,” she stated.
PayPal’s US crypto offerings now encompass seven digital assets, including its payment stablecoin, PayPal USD. The launch of PYUSD in 2023 solidified PayPal’s entry into the cryptocurrency market. PYUSD surpassed $1 billion in market capitalization for the first time.
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