PayPal’s Cryptoverse Expansion: Solana, Chainlink Get a Tap on the Door 🎉

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Oh, what a delightful twist of fate! Our beloved Global Payments Platform, PayPal, has decided to sprinkle a bit of Chainlink (LINK) and Solana (SOL) magic onto its cryptocurrency bouquet. 🌹 US-based users, rejoice! You can now buy, sell, and transfer these popular tokens with the elegance of a ballerina. 💃

LINK and SOL will soon waltz their way into the hearts of Venmo users too, a US mobile payment platform owned by PayPal. The company made this announcement with a flourish on April 4. 🗓️

Venmo, darling, you’ve captured the fancy of approximately 83 million people in 2023. How delightful! 💖

PayPal’s global charm reaches a staggering 428 million accounts, mostly residing in the land of the free. 🇺🇸 However, crypto services are exclusive to US residents. Sorry, rest of the world. 🙄

May Zabaneh, an executive in PayPal’s crypto and blockchain division, claims that this expansion is due to growing consumer demand. “More tokens mean more flexibility, choice, and access to digital currencies,” she purrs. 🐱

PayPal’s US crypto offerings now include seven digital assets, including its payment stablecoin PayPal USD (PYUSD). 🎉

Stablecoin, Stablecharm

The birth of PYUSD in 2023 was a grand entrance into the cryptocurrency scene. It reached $1 billion in market cap in just a year. 🤑 Since then, it’s cooled down to a respectable $760 million. 🤑

PayPal demonstrated PYUSD’s utility by settling an invoice with Ernst & Young in October. PayPal’s senior vice president of blockchain, Jose Fernandez da Ponte, declared that the enterprise world is ripe for stablecoin payments. 💼

Although PYUSD’s circulation is humble compared to giants USDT and USDC, Polygon Labs CEO Marc Boiron believes PayPal’s role in the sector is significant. 🏆 In an interview with CryptoMoon, he praised companies like PayPal for driving stablecoin adoption during uncertain times. 🌪️

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2025-04-04 20:20