PayPal, Venmo Expand Crypto Offerings to Solana and Chainlink

Global payments provider PayPal has unveiled plans to support Chainlink (LINK) and Solana (SOL) within its cryptocurrency services. This expansion grants U.S. users the ability to buy, sell, and transfer both tokens and will also extend to Venmo, a mobile payments platform owned by PayPal. The rollout is scheduled for the coming weeks, further diversifying PayPal’s crypto services portfolio.

PayPal’s Broader Crypto Push

PayPal’s crypto offerings, launched initially for Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in 2020, have steadily evolved. Today, the company provides seven different digital assets in the United States, including its native U.S. dollar-pegged stablecoin PayPal USD (PYUSD). According to May Zabaneh, a PayPal crypto and blockchain executive, expanding token choices aims to give users more flexibility and meet their growing interest in digital currencies.

Venmo Integration

Besides PayPal’s own user base of approximately 428 million globally, the rollout also reaches Venmo’s more than 83 million U.S. users. While PayPal’s crypto services remain limited to U.S. residents, the combined user adoption potential is sizable. Venmo has already permitted purchases of cryptocurrencies like Bitcoin and Ethereum, and adding LINK and SOL extends the range of tokens available to a large pool of mobile-centric customers.

PayPal USD (PYUSD) Update

PayPal’s stablecoin, PYUSD, debuted in 2023 and marked the company’s deeper commitment to the crypto space. Although the stablecoin reached a market capitalization over $1 billion, recent supply figures hover near $760 million, reflecting typical market fluctuations. PayPal has nonetheless showcased PYUSD’s real-world utility by settling invoices with enterprise partners such as Ernst & Young.

Importance in the Stablecoin Sector

PYUSD might not rival major stablecoins like USDT or USDC in circulating supply, but its presence and corporate backing have substantial weight. Industry leaders like Polygon Labs CEO Marc Boiron applaud companies such as PayPal and Stripe for normalizing stablecoins and driving greater enterprise acceptance—particularly as regulators continue to grapple with cryptocurrency adoption.

As PayPal and Venmo continue broadening their lineup of supported digital assets to include Solana (SOL) and Chainlink (LINK), the platforms further cement their commitment to mainstreaming crypto. While international expansion remains uncertain, the U.S. user base alone could help solidify Solana’s and Chainlink’s positions within an ever-growing crypto market, simultaneously enhancing PayPal’s presence as a leading digital payments provider.