PayPal has announced an expansion of its cryptocurrency services by adding support for Solana (SOL) and Chainlink (LINK). Users in the U.S. can now utilize these cryptocurrencies through PayPal’s wallet feature.
Support for New Cryptocurrencies
Users in the U.S. can now buy, sell, hold, and transfer Solana (SOL) and Chainlink (LINK) directly through PayPal's wallet. This addition complements existing leading crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
Comparison with Previous Options
Previously, PayPal users could purchase SOL and LINK only through MoonPay. Now, they can directly trade these assets from the PayPal wallet, simplifying the transaction process for millions of users.
Market Prospects and Impact
While the integration of Solana and Chainlink into PayPal is a significant step, it is currently only available to U.S. users. This update has not had a notable impact on the prices of SOL and LINK, which remain under the pressure of a broader market downturn.
PayPal's expansion into cryptocurrency services highlights a growing interest from institutional investors and may open new avenues for supporting additional digital assets in the future.
