PayPal Holdings, Inc. has expanded its cryptocurrency offerings by adding Chainlink (LINK) and Solana (SOL) to its PayPal and Venmo platforms. These new additions allow users to buy, hold, sell, and transfer the tokens directly within their accounts.
The announcement comes as part of PayPal’s ongoing effort to enhance its cryptocurrency services, following user feedback requesting a broader selection of digital currencies. “Since we initially made cryptocurrencies available on PayPal and Venmo, we’ve been listening to our users about what they want to do with crypto on our platforms. One piece of feedback we’ve heard is to make additional tokens available that align with our mission of revolutionizing payments,” said May Zabaneh, Vice President of Product for Blockchain, Crypto, and Digital Currencies at PayPal.
Linking Users to More Blockchain Possibilities
Chainlink is a decentralized Oracle network that enables developers to build more advanced blockchain applications. Its integration into PayPal’s platform allows users to engage with various decentralized finance (DeFi) projects and other blockchain-based solutions.
Solana, one of the fastest-growing blockchain platforms, also joins PayPal’s roster. Known for its rapid transaction speeds and scalable solutions, Solana supports a wide variety of decentralized applications (dApps) and crypto projects. SOL holders can use the token to participate in decentralized finance, make payments, and access a range of services, from gaming to community-run networks.
Continued Commitment to Cryptocurrency Accessibility
PayPal’s decision to include LINK and SOL reflects its commitment to evolving with the digital currency market and offering users an accessible and trusted environment for cryptocurrency transactions. The company has been gradually expanding its crypto offerings, and the addition of these two tokens further diversifies the selection available to users.
The two cryptocurrencies will begin appearing as purchase options on PayPal and Venmo in the coming weeks, with availability expanding gradually. By increasing the variety of tokens available, PayPal and Venmo aim to cater to the growing demand for diverse cryptocurrency options while maintaining a secure platform for users to engage with digital assets.
