PayPal Adds Solana (SOL) and Chainlink (LINK) for U.S. Customers
PayPal added Solana (SOL) and Chainlink (LINK) support for U.S. customers and U.S. territories, based on the company’s FAQ page.
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PayPal continues to expand its crypto offerings by providing SOL and LINK support to U.S. customers. The company’s website states that customers in the U.S. and U.S. territories can use the app to buy and sell the following seven cryptocurrencies:
The payment giant has been integrating crypto payments into its services over the last several years. First, in October 2020, PayPal launched a service allowing customers to buy, hold, and sell crypto directly from their accounts.
In March 2021, crypto payments also became available for users through the Checkout with Crypto service. This service allows customers to pay for goods and services at millions of online merchants using crypto, with PayPal automatically converting the digital currency into fiat at the time of purchase.
Later, in 2023, PayPal launched its PayPal USD (PYUSD) stablecoin built on the Ethereum blockchain to provide easy transfers.
Currently, PYUSD is among the six largest stablecoins, with a market cap of over $738 million.
In a recent article, PayPal revealed that it has around 20 to 60 million monthly active users. The team highlighted how crypto has driven incredible use cases, helping modernize commerce and payments.
Mainstream Adoption of Crypto Payments
The adoption of crypto payments is steadily gaining traction across various industries. Major platforms like PayPal, Square, and Shopify are incorporating digital currencies into their payment systems, making them more accessible for everyday use.
E-commerce platforms are also beginning to accept cryptocurrencies, enabling customers to use digital assets for purchases. Stablecoins, like PYUSD, provide a way for users to engage in crypto payments without exposure to the volatility typically associated with digital currencies.
This growing trend is also being fueled by increasing consumer demand for alternative payment options and the desire for greater financial inclusion. As more people around the world gain access to cryptocurrency, it opens up new avenues for both businesses and customers.
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