PayPal, Venmo, and other payment apps will allow users to hold and buy Solana or Chainlink directly within their account, alongside the leading crypto currencies Bitcoin and Ethereum.
PayPal has announced the addition of two new coins that are amongst the top 15 most valued cryptocurrencies according to CoinGecko’s data. Reflects the company’s values "dedication to the evolving digital currency landscape.”
PayPal’s Vice President of Product, Blockchain, Crypto and Digital Currency, May Zabaneh stated in a recent statement that since we first made crypto available through PayPal and Venmo we have been listening to users to see what they would like to use crypto for.
She added that “offering more digital currency tokens in PayPal and Venmo gives users greater choice and flexibility.” This gives users more choices to send or buy within their trusted PayPal and Venmo accounts.
In the coming weeks, users will be able to purchase Chainlink and Solana in their apps.
PayPal now allows users to purchase, sell or hold. Bitcoin and Ethereum direct in 2020 Venmo, the popular mobile payment app, has been able to add crypto products to its product line.
Since then, the company has slowly expanded its crypto footprint. Launching its dollar-pegged Stablecoin The PYUSD on Ethereum will first be introduced in 2023 and then expanded to Solana.
In September 2024 Owners of business accounts The ability to purchase, hold and sell their assets through the account was granted, following a trend that Businesses and Institutions Cozying Up The largest crypto assets. The announcement of the new features was followed by an update that permitted users to view their largest crypto assets. Send crypto using PayPal or Venmo Using Ethereum Name Service Service.
The company has partnered up with a crypto payment platform in recent times. MoonPay allows Venmo users to use MoonPay MoonPay’s payment rails allow users to pay with their debit or credit card, balance, or bank to purchase cryptocurrency. This feature is similar to the one that was available in Add to PayPal Early as May 2024
PayPal announced recently that it aims to be the largest online payment service provider in the world. 20 million merchants By the year 2025, PYUSD will be used as a stablecoin. At the time the announcement was made, the shares of the company traded at around $78, but the PYPL has fallen to $58,47 as of this writing. This represents a 32% loss year-to date.
Solana, and Chainlink both gained in the past 24 hours. They each gained 5.2% and 1,4%.
Andrew Hayward is the editor
