PayPal just made a big move, and for the first time, users in the U.S. and its territories can buy, sell, hold, and transfer Solana and Chainlink directly on PayPal.
No more relying on third-party services like MoonPay. It’s a big step forward for PayPal, which has been dipping its toes in crypto since October 2020.
Bigger selection
Initially, PayPal only supported the big guns, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, but now, it’s expanding its crypto roster with Solana and Chainlink.
And let’s not forget PayPal’s own stablecoin, PYUSD, which launched in August 2023 on Ethereum and later on Solana.
This move is the newest sign that PayPal is serious about crypto.
New winds
But why now? Well, the regulatory situation in the U.S. has been a bit of a minefield.
Past crackdowns by federal agencies have made institutions cautious about diving into crypto. Remember those lawsuits against Binance and Coinbase?
The SEC even questioned whether Solana was an unregistered security. But finally, things seem to be shifting.
The SEC has backed off some of its claims, and there’s a new pro-crypto wind blowing in Washington.
Accessibility
This change in tone might just give assets like Solana and Chainlink a boost.
SEC staffers are now acknowledging ETF filings for Solana, and Chainlink co-founder Sergey Nazarov even attended a White House digital asset summit. It’s a sign that crypto is becoming more mainstream, and PayPal’s move is right on cue.
If you’re a crypto enthusiast, this is great news, because more options mean more flexibility.
And if you’re just starting out, it’s a sign that crypto is becoming more accessible. PayPal’s move is a vote of confidence in the future of crypto, and they’re quite serious about building a new financial ecosystem.
Have you read it yet? GameStop just announced a $1.5 billion Bitcoin deal
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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