PayPal and Venmo are expanding their cryptocurrency services by adding Chainlink (LINK) and Solana (SOL), driven by user feedback and market demand.
PayPal and Venmo Expand Crypto Portfolio
US-based digital payment giants PayPal and Venmo have officially added Chainlink (LINK) and Solana (SOL) to their growing list of supported cryptocurrencies. The announcement was made via a blog post from PayPal Holdings, Inc., the parent company of both platforms.
The new additions aim to enhance crypto accessibility for PayPal’s massive user base of 434 million global users, reflecting the company’s broader strategy to support the evolving digital asset landscape.
“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,” said May Zabaneh, Vice President of Product for Blockchain, Crypto, and Digital Currencies at PayPal.
LINK and SOL Now Join PayPal’s Existing Crypto Lineup
Prior to this update, PayPal and Venmo already supported popular digital assets including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- PayPal USD (PYUSD) – PayPal’s own stablecoin
With the addition of LINK and SOL, users in the US will now have even more options to buy, sell, and hold digital assets through their PayPal or Venmo accounts.
Market Snapshot: Chainlink and Solana
As of now:
- Chainlink (LINK) ranks 13th by market cap on CoinMarketCap, trading at $10.70, with a circulating supply of 657 million tokens and a market cap of $7.11 billion.
- Solana (SOL) holds the 7th position globally, trading at $101.47, with 515 million tokens in circulation and a total market cap of $52.2 billion.
A Commitment to Digital Innovation
The integration of LINK and SOL is part of PayPal’s broader commitment to blockchain and Web3 innovation. Since entering the crypto space in 2020, PayPal has taken several strategic steps, including:
- 2021: Expanding crypto access to UK users
- 2022: Launching development on its USD-backed stablecoin (PYUSD)
- 2023: Official launch of PayPal USD (PYUSD) and allowing US business accounts to manage crypto assets
- 2023: Holding nearly $1 billion in crypto assets, including $499 million in Bitcoin and $362 million in Ethereum
In February 2024, PayPal also made headlines by offering to reimburse users up to $50,000 for unauthorized crypto transfers — at no additional cost — a move that underscores its focus on security and user trust.
Future Outlook
The inclusion of Chainlink and Solana marks a significant step in PayPal’s mission to democratize crypto access and keep pace with the rapidly evolving digital finance ecosystem. With continued user engagement and expanding token options, PayPal and Venmo are solidifying their role as leading players in the mainstream adoption of cryptocurrency.
