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PayPal's Latest Move: Solana (SOL) and Chainlink (LINK) Added to Its Crypto Lineup for US Customers
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PayPal Adds Solana and Chainlink to Supported Cryptos in the US
PayPal has expanded its cryptocurrency offerings by adding Solana (SOL) and Chainlink (LINK) to its list of supported digital assets for users in the US and US territories.
This move enhances PayPal’s crypto lineup, which already includes PayPal USD (PYUSD), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
The update was recently confirmed through an update on PayPal’s help centre page.
No Official Announcement on Timeline
Although the addition of SOL and LINK was quietly rolled out, PayPal has yet to make an official announcement detailing the timeline of this new integration.
Notably, the PayPal developer portal, which was last updated in November 2024, already listed these two assets as supported digital currencies, suggesting the integration has been in place for some time.
New Features for US-Based PayPal Customers
US-based PayPal users now have the ability to buy, sell, and hold Solana and Chainlink alongside other major cryptocurrencies.
However, the ability to transfer these assets to external wallets has not been confirmed.
As of now, PayPal users can send Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and PayPal USD to compatible external wallets, including Ethereum ERC-20 and Solana SPL wallets.
Increased Crypto Accessibility for US Merchants
This expansion also aligns with PayPal’s broader efforts to enhance the crypto experience for US businesses.
Last September, PayPal allowed US merchants to buy, sell, and hold crypto directly from their business accounts, including the ability to send and receive tokens on-chain.
However, this service is not yet available in New York State.
The inclusion of more cryptocurrencies further supports PayPal’s goal of increasing crypto utility among the 36 million merchants using its platform.
Solana and Chainlink: What They Bring to the Table
Solana, known for its fast and cost-effective blockchain technology, has gained popularity due to its ability to process a high volume of transactions efficiently.
Chainlink, on the other hand, acts as a decentralized oracle network, enabling blockchains to interact with real-world data.
These two cryptocurrencies add greater diversity to PayPal’s offerings, allowing users more flexibility when building their portfolios.
A Strategic Move in the Growing Crypto Market
The addition of Solana and Chainlink signals PayPal’s ongoing commitment to expanding its role in the crypto sector.
As the market continues to evolve, PayPal’s ability to offer a wide range of digital currencies will help it stay competitive against other financial platforms like Venmo and Cash App, which have also been incorporating more crypto services.
PayPal's Crypto Journey Continues
Since its first venture into crypto in 2020, PayPal has gradually increased its crypto services.
Initially, it allowed users to buy and sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
By 2021, PayPal expanded its reach to the UK, and by 2024, it enabled millions of US merchants to transact in crypto.
With the addition of Solana and Chainlink, PayPal is continuing its push to make cryptocurrency more accessible for both individual users and businesses alike.
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