PayPal (PYPL) Announces Support for Solana (SOL) and Chainlink (LINK)

International payments giant PayPal has announced support for altcoins like Solana SOL $113.3 24h volatility: 9.8% Market cap: $58.53 B Vol. 24h: $8.15 B

International payments giant PayPal has announced support for altcoins like Solana (SOL) and Chainlink (LINK), enabling US users to buy, sell, and hold these digital assets.

What Happened: Earlier, customers could only purchase SOL and LINK using MoonPay and select cryptocurrencies, with PayPal serving as the payment method. However, recent updates to PayPal's frequently asked questions (FAQ) section have confirmed the direct integration of the two altcoins into the platform.

"In the U.S., we offer a limited selection of cryptocurrencies that you can buy, sell, and hold on PayPal. Currently, you can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, Solana, and Chainlink," the company said in an email response to a user query.

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The integration of Solana assets and Chainlink aligns with PayPal's broader Web3 technology strategy. The Solana blockchain, renowned for its high transaction speed, allows users to effortlessly engage with decentralized applications and DeFi products.

Meanwhile, Chainlink, a decentralized oracle network, seamlessly connects smart contracts with real-world data, thereby enhancing the functionality of decentralized systems.

Why It's Important: PayPal's introduction of altcoins expands the options available to its vast user base, potentially driving broader market adoption for these assets.

With over 300 million users in the U.S., PayPal's support could significantly increase the visibility and liquidity of Solana and Chainlink, ultimately impacting their price movements.

The Trump administration's crypto-friendly policies have boosted fintech players' confidence in making such moves.

Earlier this year, PayPal announced plans to launch its own stablecoin, further expanding its presence in the digital currency domain. The stablecoin initiative is being undertaken in partnership with the Stellar Development Foundation.

The news of Chainlink and Solana integration was first reported by Ben Armstrong, host of the "Armstrong and Brandon" show.

"Huge news! President Trump’s pro-crypto policies are paying off big time for the American people. As of today, U.S. customers can now buy, sell, and hold Solana and Chainlink on PayPal. A big moment for crypto in the U.S., and it wouldn’t have been possible without President Trump’s decisive leadership on this critical issue."

The post PayPal Adds Solana, Chainlink For Direct Purchase In U.S., Reflects Trump's Crypto-Friendly Policies appeared first on Benzinga.com.