PayPal has announced that users of this platform and the Venmo app will soon be able to buy, sell, and hold Solana (SOL) and Chainlink (LINK) cryptocurrencies in their accounts, similar to Bitcoin (BTC) and Ethereum (ETH). This move is in line with expanding cryptocurrency services on PayPal and meeting users’ demands. The deputy of PayPal’s blockchain and cryptocurrency division stated that adding new tokens provides more flexibility and options for users to utilize them in their secure PayPal and Venmo wallets. Reports suggest that access to buying Solana and Chainlink within the app will be available in the coming weeks for active users. It is noteworthy that since 2020, PayPal has enabled users to buy, sell, and hold Bitcoin and Ethereum gradually expanding its range of cryptocurrency services. The company introduced its stablecoin PYUSD backed by the dollar first on Ethereum and then on Solana in 2023. In September 2024, business account owners were able to directly buy and sell cryptocurrencies in their accounts. Previously, the ability to send cryptocurrencies to PayPal and Venmo via the Ethereum Name Service (ENS) had been added. Additionally, PayPal has recently partnered with MoonPay platform to allow Venmo users to purchase any cryptocurrency through this gateway with balance, bank account, or card. This feature was also added to PayPal in May 2024. PayPal’s goal is for 20 million sellers to use the PYUSD stablecoin by the end of 2025. Despite these developments, the company’s stock value has decreased from around $77 to $58.47, showing a 32% decline since the beginning of the year. On the real-time digital currency price page, you can monitor the prices of all tokens and cryptocurrencies live and instantly.
