PayPal has taken another major step into the digital asset space by adding support for Solana (SOL) and Chainlink (LINK) for users in the United States and its territories. This update allows users to buy, sell, hold, and transfer SOL and LINK directly through PayPal’s platform, without relying on third-party services like MoonPay.
This marks the latest phase of PayPal’s gradual but strategic expansion into the cryptocurrency sector. The company first entered the crypto space in October 2020, offering support for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). In August 2023, it introduced its own stablecoin, PayPal USD (PYUSD), issued on Ethereum and Solana, underscoring its deeper commitment to the blockchain ecosystem.
The addition of SOL and LINK also reflects shifting regulatory dynamics in the U.S. In 2023, the SEC targeted Solana and exchanges offering it, including Coinbase and Binance, claiming SOL could be classified as an unregistered security. However, the SEC has since dropped its case against Coinbase and paused litigation against Binance, withdrawing its attempt to classify SOL as a security. These developments signal a potentially more favorable environment for digital assets.
As a result, institutional recognition of crypto assets like Solana and Chainlink is growing. Notably, multiple spot Solana ETF filings are currently under review, and Chainlink’s co-founder attended the White House’s first digital asset summit in March 2025 — a milestone moment for the crypto community.
Meanwhile, venture capital interest in the crypto payments and infrastructure space is accelerating. In recent months:
- RedotPay secured $40 million in Series A funding, backed by major firms like Lightspeed and Galaxy Ventures.
- Mesh raised $82 million in Series B, led by Paradigm and joined by ConsenSys and others.
- Stripe made headlines with its $1.1 billion acquisition of stablecoin platform Bridge and resumed crypto payment support after a six-year hiatus.
- Triple-A, a -based payments company, anSingaporenounced plans to integrate PayPal’s PYUSD for customer payments.
These moves illustrate a broader trend: growing reliance on stablecoins and blockchain-based infrastructure in the financial sector.
PayPal’s continued push into the crypto world reflects its belief in the long-term role of digital assets in the future economy. According to May Zabane, a PayPal executive, the inclusion of SOL and LINK helps the platform appeal to a wider range of users— from developers and startups to casual investors looking for alternatives to Bitcoin and Ethereum.
With this update, PayPal now supports seven cryptocurrencies, and users can expect access to these features in the coming weeks across both the PayPal and Venmo apps.
This expansion marks not just a technological upgrade, but a statement of confidence: PayPal sees crypto not as a trend, but as a foundation of the evolving digital economy.
