Crypto Users Can Now Buy and Sell Solana and Chainlink on PayPal and Venmo

PayPal Holdings has expanded its digital asset offering, integrating two new cryptocurrencies for trading among US PayPal and Venmo users. According to an April 4 announcement , users of the most prominent financial technology platforms in the United States and associated territories have two new cryptocurrencies at their disposal. PayPal and Venmo users can now buy, sell, and hold Solana and Chainlink directly on their mobile applications. PayPal Expands Crypto Offering Before now, PayPal users could only acquire Solana and Chainlink through a third-party integration. Specifically, MoonPay allowed US users to buy SOL, LINK, and other assets like XRP , DOT, DOGE, and USDC, which were unavailable directly on the platform. However, PayPal has added support for the two prominent cryptocurrencies, currently standing at 7th and 13th in the rankings by market cap. They also join assets like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as the cryptocurrencies that customers can trade directly on PayPal and Venmo. Meanwhile, the addition follows customers' clamor for an extended list of cryptocurrencies available for transacting. May Zabaneh, PayPal’s vice president of product, blockchain, crypto, and digital currencies, noted that the payment giant has heeded their feedback and has started the expansion with Solana and Chainlink. He noted that the addition also aligns with their ambitions to revolutionize payments by adopting broader and easier means of processing clients’ transactions. Furthermore, more digital assets on PayPal and Venmo meant enhanced flexibility and access. Notably, Solana and Chainlink remained unmoved by the announcement, posting meager gains in the past 24 hours. Particularly, SOL trades at $115.20 and LINK at $12.52. Expansion Amid Milder Regulation PayPal started dabbling in cryptocurrency years ago and has dipped its toes deeper over time. The prominent payment firm began offering cryptocurrency services in 2020 and launched its dollar-pegged stablecoin, PayPal USD, on the Ethereum network in August 2023. Today, the stablecoin has expanded to Solana and platforms like Crypto.com , ByBit , and Zero Hash. In September, PayPal allowed direct purchases of cryptocurrencies on its platform but was very conservative in its pick. It integrated Bitcoin, Ethereum, and two other digital assets without securities tags. This was at the peak of the US Securities and Exchange Commission's regulatory clampdown on cryptocurrency. Under former chair Gary Gensler, the Wall Street regulator branded several digital assets as securities and sued multiple firms for offering these alleged unregistered securities. However, the tides are easing under pro-Bitcoin President Donald Trump, who promised to end the former administration’s war against cryptocurrency. Under acting chair Mark T. Uyeda, the SEC has dropped lawsuits against digital asset firms and formed a task force to create a clear crypto framework, encouraging firms like PayPal to expand their offerings to US users.