PayPal is stepping up its crypto game. The company has officially integrated Chainlink (LINK) and Solana (SOL) into its digital currency services, including the Venmo app. This move allows U.S. users to buy, sell, hold, and transfer these two popular cryptocurrencies directly from their PayPal and Venmo accounts.
Greater Flexibility for Crypto Users
The expansion follows growing demand from users for more crypto options. May Zabaneh, Vice President of Product for Blockchain, Crypto, and Digital Currencies at PayPal, explained that the move aims to give users more choice and flexibility when managing digital assets.
PayPal now supports seven cryptocurrencies in the U.S., including its own stablecoin, PayPal USD (PYUSD). The rollout of LINK and SOL is expected to be completed in the coming weeks.
Why LINK and SOL?
- Chainlink (LINK) is a leader in the decentralized oracle space. It connects smart contracts to real-world data, making them more useful and secure.
- Solana (SOL) is known for its lightning-fast blockchain and low transaction costs. It’s a go-to platform for developers building scalable decentralized apps.
By adding these two tokens, PayPal is tapping into the growing appeal of platforms that offer both innovation and reliability in the crypto space.
Wyoming Makes Moves with State-Backed Stablecoin
In related news, Wyoming is testing a new state-backed stablecoin, dubbed WYST. The testing includes major blockchains like Solana, adding a layer of legitimacy to the network. WYST represents one of the first U.S. state-issued stablecoins, signaling a potential shift in how governments interact with digital currencies.
As of April 5, 2025, PayPal Holdings Inc. (PYPL) is trading at $58.37. The stock reflects ongoing market shifts, with an intraday high of $61.35 and a low of $57.36. The company holds a market cap of approximately $79.8 billion and a price-to-earnings ratio of 18.02.
