PayPal now supports Solana and Chainlink for US users
- US @paypal users can now buy, sell and hold $sol and $link directly from their accounts, marking another important step in the company's cryptocurrency expansion.
What does this mean for PayPal users
- @solana and @chainlink join Bitcoin, Ethereum, Litecoin, Bitcoin Cash and PayPal USD (Pyusd) in Paypal's growing cryptocurrency lineup.
- Previously, PayPal users could only purchase SOL and links through Moonpay. Now they can trade them directly within Paypal.
- While Bitcoin, Ethereum and PYUSD support external transfers, PayPal has not confirmed whether it is possible to withdraw SOL and link to an external wallet.
Why Solana and Chain Link?
- Solana is known for its low fees and high-speed transactions and is the most popular among developers and Defi projects.
- Leading decentralized Oracle network, ChainLink plays a vital role in smart contracts by providing real-world data to blockchain applications.
A bigger push to encrypt:
- PayPal has continuously expanded its products since its launch of crypto services in 2020. In the second half of 2024, it allows American merchants to accept cryptocurrency payments.
- Now, with Solana and Chainlink, PayPal is strengthening its position as a key player in digital payments and blockchain adoption.