- PayPal users in the US can now trade Solana and Chainlink directly on the app and Venmo.
- Solana and Chainlink bring new blockchain features to PayPal’s growing list of supported crypto assets.
- The update adds two more tokens as PayPal continues to expand its crypto services in a careful and steady way.
PayPal has expanded its cryptocurrency offerings to include Solana (SOL) and Chainlink (LINK). The update allows U.S. users to buy, sell, hold, and transfer the two assets directly through PayPal and Venmo. This move increases PayPal’s supported digital currencies to seven.
Previously, PayPal users accessed SOL and LINK through external platforms like MoonPay. With this rollout, transactions now occur directly within PayPal’s system. The integration is expected to complete over the coming weeks, according to the company’s announcement on April 4.
Broader User Access and Utility
Solana and Chainlink offer significant blockchain infrastructure. Solana stands out for fast processing capabilities alongside support for flexible decentralized application development. The Chainlink solution enables reliable real-world data feeds for smart contracts. Their addition targets developers, retail investors, and data providers seeking more functionality.
PayPal started its crypto operations in October 2020 by supporting Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal launched a checkout system in March 2021 which allowed customers to convert their crypto assets into fiat funds during checkout transactions. Users could utilize their digital assets to make payments at millions of stores through this feature.
Launch of PayPal USD (PYUSD)
In 2023, PayPal issued its own stablecoin, PYUSD, on the Ethereum blockchain through a partnership with Paxos. The token was introduced as part of PayPal’s broader plan to enhance digital commerce. It reached a peak market cap above $1 billion in August 2024 before stabilizing at $760 million.
PYUSD has been used in real-world business cases. One notable transaction involved settling an invoice with consulting firm Ernst & Young. This move demonstrated the token’s application in corporate finance and ongoing institutional interest in blockchain adoption.
Cautious Approach Amid Regulatory Uncertainty
PayPal continues to list assets carefully due to unclear U.S. regulations. Analysts suggest evolving policies and rising institutional adoption could drive broader support. At present, only U.S. users can access the newly listed assets, with no global rollout confirmed.
Following the announcement, the prices of SOL and LINK showed little movement. SOL trades around $119, while LINK remains near $12.66. The muted response aligns with the current downward market trend.
PayPal’s latest integration supports its long-term plan to blend traditional payments with digital assets. The company remains focused on steady, regulated growth in blockchain-based services.
