Financial giant PayPal has reportedly provided its US customers with access to cryptocurrencies Solana (SOL) and Chainlink (LINK), following reports on social media which contributed to a rise in token prices.
PayPal's Cryptocurrency Access
According to social media reports, PayPal has enabled its US customers to interact with cryptocurrencies Solana and Chainlink. This move is part of the company's strategy to expand its services in the cryptocurrency industry.
Impact on SOL and LINK Market
Following the news of access to Solana and Chainlink, these digital assets saw an increase. SOL's price rose by 1.8%, while LINK increased by 2.5%, indicating a positive market reaction to the announcement.
PayPal's History in Crypto Industry
PayPal first entered the crypto space in 2020 when it announced the support of Bitcoin and several major altcoins. In 2021, PayPal extended its cryptocurrency offerings to the UK market. This past May, PayPal announced the launch of its stablecoin PYUSD on the Solana blockchain. In September, the company enabled millions of its merchants to purchase cryptocurrencies, marking a significant expansion of its role in the crypto market.
PayPal's latest offering for US customers represents a significant step in integrating cryptocurrencies into everyday financial transactions, promoting further adoption of digital assets among the general public.
