- PayPal has added Solana ($SOL) and Chainlink ($LINK) to its crypto offerings
- The tokens are now available for trading on both PayPal and Venmo apps
- The move expands PayPal’s limited roster of supported cryptocurrencies for the first time since its 2020 launch
PayPal has expanded its digital asset services by adding $SOL and $LINK to the small list of cryptocurrencies available on its platform. The two tokens can now be bought, sold, held, and transferred by users on both PayPal and its peer-to-peer payment app Venmo. This marks the first addition of new cryptocurrencies since PayPal rolled out crypto support in 2020 with support for four coins.
PayPal Finally Expands
PayPal entered the crypto space in late 2020, launching with Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Since then, the company has positioned itself as a mainstream gateway to digital assets, catering largely to retail users. However, no new coins have been added in all the years since this launch, making this something of a watershed moment:
The future of payments is here! We’re expanding our U.S. crypto service with Chainlink (LINK) & Solana (SOL). Buy, hold, sell, & transfer directly in your PayPal and @Venmo wallets. More info: https://t.co/7UWut2IGXz
— PayPal (@PayPal) April 4, 2025
In a press release, PayPal’s Vice President of Product, Blockchain, Crypto, and Digital Currencies, May Zabaneh, offered up the reasons behind the addition of $SOL and $LINK of all the thousands of coins on the market:
Since we initially made cryptocurrencies available on PayPal and Venmo, we’ve been listening to our users about what they want to do with crypto on our platforms. One piece of feedback we’ve heard is to make additional tokens available that align with our mission of revolutionizing payments.
While the tokens are now accessible to buy and sell within PayPal and Venmo apps, they are also supported by PayPal’s recently launched “off-ramp” service, which allows users to transfer crypto to third-party wallets and exchanges.
Fighting Off the Competition
The decision to support new tokens comes as PayPal faces growing competition from fintech platforms and exchanges that offer a wider variety of crypto assets. Robinhood, for example, lists over a dozen cryptocurrencies, and even financial giants like Fidelity and BlackRock have begun to inch further into the digital asset space.
By adding two widely used assets, PayPal appears to be moving beyond its conservative initial lineup.
