PayPal has officially added support for cryptocurrencies Solana (SOL) and Chainlink (LINK) for users in the U.S. This decision expands the list of supported assets to seven.
New Support from PayPal
Users can now buy, sell, and hold SOL and LINK directly through PayPal's wallet interface. This upgrade follows the company's steps towards embracing digital assets since 2020.
Why Solana and Chainlink?
Solana is known for its fast and low-cost transactions, making it popular for decentralized applications and DeFi. Chainlink, on the other hand, provides decentralized oracles necessary for smart contracts to interact with real-world data. The integration of LINK suggests long-term value in enabling access to blockchain infrastructure.
Limitations and Future Integration
While users can now buy and hold SOL and LINK, external transfers for these tokens are not yet confirmed. This may limit current use cases but hints at future potential. Currently, the new features are exclusive to U.S. users.
The integration of Solana and Chainlink into the PayPal platform underscores the company's effort to build a strong digital asset ecosystem, which may significantly influence the market. Enabling external transfers for the new cryptocurrencies could attract more users.
