Solana, Chainlink Support Coming to Both PayPal and Venmo

People of popular payment apps PayPal and Venmo will soon be able to buy, sell, hold, and exchange Solana and Chainlink from immediately inside their balances alongside leading cryptocurrencies Bitcoin and Ethereum. &nbsp,

PayPal said that adding the new coins, which are both among the top 15 most important cryptocurrencies by industry cover between according to data from CoinGecko, reflects the company’s “dedication to the evolving modern money landscape”.

” Since we first made bitcoin available on PayPal and Venmo, we’ve been listening to our clients about what they want to do with crypto on our programs”, said May Zabaneh, PayPal’s VP of goods, bitcoin, crypto and digital assets in a statement.

” Offering more tokens on PayPal and Venmo provides consumers with greater freedom, selection, and access to digital assets”, she added. ” This allows for more choices to acquire, mail, or invest within our trusted Paytm and Venmo cards”.

Access to Chainlink and Solana purchases will roll out to users in-app “over the next few weeks” .&nbsp,

PayPal began allowing users to buy, sell, or hold Bitcoin and Ethereum immediately in 2020 and has since made moves to improve its crypto product offering, after expanding capabilities to its famous Venmo smart payments app.

Since that time, the firm has gradually expanded its crypto footprint, launching its own dollar-pegged stablecoin ( PYUSD ) on Ethereum in 2023 before expanding it to Solana. &nbsp,

In September 2024, business account owners were granted the ability to buy, sell, and hold assets directly via their accounts, piggybacking on a trend of businesses and institutions cozying up to the largest crypto assets. That announcement was preceded by a feature addition that allowed users to send crypto via PayPal and Venmo using the Ethereum Name Service ( ENS ).

More recently, the company teamed with crypto payments platform MoonPay, allowing users of Venmo to utilize their balance, bank, or debit card to purchase any cryptocurrency via MoonPay’s payment rails. The same feature was added in PayPal as early as May 2024. &nbsp,

PayPal recently stated a goal of having 20 million merchants using its PYUSD stablecoin by the end of 2025. Around the time of that announcement, shares in the company were trading around$ 77, but its PYPL stock has slid to$ 58.47 at the time of writing, marking a loss of around 32 % year-to-date. &nbsp,

Solana and Chainlink are both up in the last 24 hours, gaining 5.2 % and 1.4 % respectively.