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| Solana |
US Users Gain Direct Access to SOL and LINK via PayPal Wallets
Payment services giant PayPal has expanded its digital asset offerings by incorporating Solana (SOL) and Chainlink (LINK) onto its platform. This move enables PayPal users within the United States and its territories to directly buy, sell, hold, and transfer SOL and LINK through their PayPal wallets.
SOL and LINK Added to Existing Crypto Offerings, Enhancing User Convenience
PayPal’s FAQ page confirms that users can now access SOL and LINK alongside previously supported cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and PayPal’s stablecoin PYUSD. This integration simplifies the digital asset transaction process, allowing users to trade these assets directly within the PayPal wallet, a significant upgrade from the previous reliance on MoonPay for SOL and LINK purchases.
The new support for SOL and LINK is currently exclusive to U.S. users, with no immediate plans for international expansion announced. Moreover, the recent market downturn in cryptocurrencies has muted the immediate impact of PayPal's announcement. Currently, SOL trades at approximately $115, and LINK at $12.65.
PayPal's Cautious Approach Amid Regulatory Uncertainty, Future Expansion Possible
PayPal's deliberate approach to cryptocurrency listings is primarily attributed to regulatory uncertainties within the U.S. However, with potential improvements in the regulatory landscape and increasing institutional interest, the variety of cryptocurrencies supported by PayPal could expand. The market anticipates PayPal's future moves in the digital asset sector.